Jupiter Topco LLC Purchases New Position in FB Financial Corporation $FBK

Jupiter Topco LLC acquired a new position in shares of FB Financial Corporation (NYSE:FBK) during the 2nd quarter, Holdings Channel reports. The fund acquired 385,498 shares of the financial services provider’s stock, valued at approximately $21,338,000.

A number of other institutional investors have also recently bought and sold shares of FBK. Artemis Investment Management LLP purchased a new stake in FB Financial during the 4th quarter valued at about $1,875,000. Dimensional Fund Advisors LP raised its holdings in FB Financial by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock worth $103,905,000 after buying an additional 28,023 shares during the last quarter. Vanguard Group Inc. raised its holdings in FB Financial by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,018,224 shares of the financial services provider’s stock worth $168,417,000 after buying an additional 60,430 shares during the last quarter. UBS Group AG lifted its stake in shares of FB Financial by 21.8% in the fourth quarter. UBS Group AG now owns 225,446 shares of the financial services provider’s stock worth $12,580,000 after buying an additional 40,388 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of FB Financial by 1,690,485.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock worth $174,519,000 after buying an additional 3,127,398 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analyst Ratings Changes

FBK has been the subject of several analyst reports. Benchmark raised their price target on shares of FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Weiss Ratings raised FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of FB Financial in a research note on Tuesday, July 14th. Finally, Raymond James Financial increased their target price on FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $64.67.

FB Financial Stock Performance

FBK opened at $57.86 on Friday. The company’s 50-day simple moving average is $58.51 and its two-hundred day simple moving average is $55.54. The stock has a market capitalization of $2.89 billion, a P/E ratio of 15.51 and a beta of 0.94. FB Financial Corporation has a 52-week low of $49.24 and a 52-week high of $62.65.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Monday, July 13th. The financial services provider reported $1.14 EPS for the quarter, hitting analysts’ consensus estimates of $1.14. FB Financial had a net margin of 19.00% and a return on equity of 12.08%. The firm had revenue of $175.94 million during the quarter, compared to analyst estimates of $177.45 million. Research analysts forecast that FB Financial Corporation will post 4.67 EPS for the current fiscal year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were issued a $0.21 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $0.84 annualized dividend and a yield of 1.5%. FB Financial’s dividend payout ratio (DPR) is currently 22.52%.

FB Financial Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.