Renaissance Technologies LLC Makes New $217,000 Investment in FB Financial Co. (NYSE:FBK)

Renaissance Technologies LLC acquired a new stake in FB Financial Co. (NYSE:FBK) in the second quarter, HoldingsChannel.com reports. The firm acquired 5,562 shares of the financial services provider’s stock, valued at approximately $217,000.

Several other institutional investors have also recently added to or reduced their stakes in FBK. SG Americas Securities LLC acquired a new stake in FB Financial in the 1st quarter worth about $165,000. ProShare Advisors LLC boosted its position in shares of FB Financial by 7.4% in the first quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 494 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in FB Financial by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 1,067 shares during the period. Price T Rowe Associates Inc. MD increased its position in FB Financial by 16.3% during the first 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 during the last quarter. Finally, Quest Partners LLC purchased a new position in FB Financial during the second quarter worth approximately $450,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

FB Financial Price Performance

NYSE:FBK opened at $47.53 on Friday. FB Financial Co. has a 12 month low of $27.61 and a 12 month high of $49.97. The business’s 50-day moving average is $45.82 and its two-hundred day moving average is $41.22. The firm has a market capitalization of $2.23 billion, a PE ratio of 19.97 and a beta of 1.13.

FB Financial (NYSE:FBK) last announced its earnings results on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $128.22 million for the quarter, compared to the consensus estimate of $123.52 million. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. Equities analysts anticipate that FB Financial Co. will post 3.25 EPS for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were paid a $0.17 dividend. 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 (DPR) is presently 28.57%.

Wall Street Analyst Weigh In

FBK has been the subject of several research reports. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $41.00 to $46.00 in a research note on Wednesday, July 17th. Stephens reissued an “overweight” rating and set a $45.00 price target on shares of FB Financial in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods raised their price objective on FB Financial from $40.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. decreased their target price on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $42.33.

About FB Financial

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.