AQR Capital Management LLC Boosts Stake in FB Financial Co. (NYSE:FBK)

AQR Capital Management LLC grew its holdings in shares of FB Financial Co. (NYSE:FBK) by 30.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,704 shares of the financial services provider’s stock after purchasing an additional 9,512 shares during the period. AQR Capital Management LLC owned approximately 0.09% of FB Financial worth $1,589,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in FB Financial during the 1st quarter worth about $165,000. Renaissance Technologies LLC purchased a new position in FB Financial in the 2nd quarter valued at about $217,000. ProShare Advisors LLC lifted its stake in FB Financial by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 494 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in FB Financial by 17.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in FB Financial by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,146 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 1,424 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Price Performance

Shares of FBK opened at $45.71 on Friday. FB Financial Co. has a 1-year low of $27.61 and a 1-year high of $49.97. The stock has a market cap of $2.15 billion, a PE ratio of 19.21 and a beta of 1.13. The firm has a fifty day moving average price of $45.74 and a 200 day moving average price of $41.07.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Monday, July 15th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. The business had revenue of $128.22 million for the quarter, compared to analyst estimates of $123.52 million. As a group, equities analysts expect that FB Financial Co. will post 3.25 EPS for the current fiscal year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.49%. FB Financial’s payout ratio is 28.57%.

Analysts Set New Price Targets

A number of research analysts have weighed in on FBK shares. JPMorgan Chase & Co. decreased their target price on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a research note on Thursday, June 27th. Keefe, Bruyette & Woods lifted their target price on shares of FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. Finally, Stephens restated an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, FB Financial has a consensus rating of “Hold” and an average target price of $42.33.

FB Financial Company Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.