GSA Capital Partners LLP Takes Position in FB Financial Corporation (NYSE:FBK)

GSA Capital Partners LLP bought a new stake in shares of FB Financial Corporation (NYSE:FBK) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,775 shares of the financial services provider’s stock, valued at approximately $1,149,000. GSA Capital Partners LLP owned 0.05% of FB Financial as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FBK. Northern Trust Corp boosted its holdings in FB Financial by 15.3% in the 4th quarter. Northern Trust Corp now owns 424,882 shares of the financial services provider’s stock worth $21,886,000 after buying an additional 56,474 shares during the period. Bridgeway Capital Management LLC boosted its holdings in FB Financial by 1.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 394,155 shares of the financial services provider’s stock worth $20,303,000 after buying an additional 7,037 shares during the period. Federated Hermes Inc. boosted its holdings in FB Financial by 3.0% in the 4th quarter. Federated Hermes Inc. now owns 339,938 shares of the financial services provider’s stock worth $17,510,000 after buying an additional 9,995 shares during the period. Millennium Management LLC boosted its holdings in FB Financial by 17.8% in the 4th quarter. Millennium Management LLC now owns 316,771 shares of the financial services provider’s stock worth $16,317,000 after buying an additional 47,761 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in FB Financial by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider’s stock worth $14,136,000 after buying an additional 3,492 shares during the period. 65.40% of the stock is owned by institutional investors.

FB Financial Stock Performance

FB Financial stock opened at $49.60 on Thursday. The firm’s fifty day moving average price is $45.70 and its 200-day moving average price is $46.70. The stock has a market cap of $2.27 billion, a P/E ratio of 25.70 and a beta of 0.91. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $58.88.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Monday, July 14th. The financial services provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). The company had revenue of $76.86 million for the quarter, compared to analysts’ expectations of $136.32 million. FB Financial had a net margin of 11.46% and a return on equity of 10.15%. On average, analysts predict that FB Financial Corporation will post 3.64 earnings per share for the current year.

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Tuesday, August 12th. FB Financial’s dividend payout ratio (DPR) is currently 39.38%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FBK. Keefe, Bruyette & Woods upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $52.00 to $58.00 in a research note on Friday, July 11th. Stephens lowered their target price on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Wall Street Zen cut shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Finally, Piper Sandler lowered their target price on shares of FB Financial from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $58.25.

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.