FB Financial Co. (NYSE:FBK) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. raised its holdings in FB Financial Co. (NYSE:FBK) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,932 shares of the financial services provider’s stock after purchasing an additional 5,605 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.23% of FB Financial worth $3,989,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in FB Financial during the 4th quarter valued at $43,000. Quadrant Capital Group LLC grew its stake in FB Financial by 85.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,638 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,679 shares in the last quarter. SG Americas Securities LLC bought a new stake in FB Financial in the first quarter valued at about $165,000. Foundry Partners LLC acquired a new stake in FB Financial during the fourth quarter valued at approximately $217,000. Finally, Mutual of America Capital Management LLC bought a new position in FB Financial during the 4th quarter worth approximately $245,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. 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. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $40.00 to $40.50 in a report on Tuesday, April 16th. JPMorgan Chase & Co. cut their price objective on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a research report on Thursday, June 27th. Finally, StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.33.

FB Financial Stock Performance

Shares of NYSE:FBK traded up $0.59 on Wednesday, hitting $47.38. 34,376 shares of the company were exchanged, compared to its average volume of 146,699. The company’s 50 day moving average price is $39.48 and its two-hundred day moving average price is $37.76. FB Financial Co. has a one year low of $27.42 and a one year high of $48.30. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 19.67 and a beta of 1.14.

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.68 annualized dividend and a yield of 1.44%. FB Financial’s dividend payout ratio (DPR) is 28.57%.

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.