5,562 Shares in FB Financial Co. (NYSE:FBK) Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC acquired a new stake in FB Financial Co. (NYSE:FBK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,562 shares of the financial services provider’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of FB Financial by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock valued at $97,816,000 after buying an additional 49,313 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in FB Financial by 1.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 213,948 shares of the financial services provider’s stock valued at $8,057,000 after acquiring an additional 3,630 shares during the period. Wasatch Advisors LP boosted its position in shares of FB Financial by 13.1% during the 1st quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock worth $45,172,000 after purchasing an additional 139,395 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of FB Financial by 7.3% during the 1st quarter. Principal Financial Group Inc. now owns 196,464 shares of the financial services provider’s stock worth $7,399,000 after purchasing an additional 13,306 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of FB Financial by 73.6% in the 1st quarter. BNP Paribas Financial Markets now owns 18,029 shares of the financial services provider’s stock valued at $679,000 after purchasing an additional 7,643 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Price Performance

Shares of FB Financial stock opened at $47.53 on Friday. FB Financial Co. has a 1 year low of $27.61 and a 1 year high of $49.97. The business has a 50 day moving average price of $45.82 and a 200 day moving average price of $41.22. The company has a market capitalization of $2.23 billion, a P/E ratio of 19.97 and a beta of 1.13.

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

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.43%. FB Financial’s dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

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

FB Financial 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.