Deutsche Bank AG Acquires New Shares in FB Financial Corporation $FBK

Deutsche Bank AG bought a new position in shares of FB Financial Corporation (NYSE:FBK) during the 2nd quarter, HoldingsChannel reports. The firm bought 45,229 shares of the financial services provider’s stock, valued at approximately $2,503,000.

A number of other large investors have also recently made changes to their positions in FBK. AQR Capital Management LLC boosted its holdings in shares of FB Financial by 23.8% in the 1st quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock worth $2,752,000 after purchasing an additional 11,414 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of FB Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock worth $980,000 after purchasing an additional 930 shares during the period. Millennium Management LLC grew its stake in FB Financial by 11.8% in the first quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock worth $16,419,000 after purchasing an additional 37,385 shares during the period. Jones Financial Companies Lllp bought a new stake in FB Financial during the first quarter worth about $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in FB Financial by 39.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock valued at $3,715,000 after buying an additional 22,662 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

FB Financial Trading Down 0.2%

NYSE FBK opened at $57.59 on Friday. FB Financial Corporation has a 12 month low of $49.24 and a 12 month high of $62.65. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 15.44 and a beta of 0.94. The company’s 50 day moving average is $58.43 and its two-hundred day moving average is $55.52.

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

FB Financial Announces Dividend

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

Analysts Set New Price Targets

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

About FB Financial

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.