FB Financial Corporation $FBK Shares Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC lifted its holdings in FB Financial Corporation (NYSE:FBK) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,706 shares of the financial services provider’s stock after purchasing an additional 25,610 shares during the period. FB Financial comprises 1.3% of Penn Capital Management Company LLC’s holdings, making the stock its 22nd biggest holding. Penn Capital Management Company LLC owned about 0.57% of FB Financial worth $16,891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Savant Capital LLC lifted its stake in FB Financial by 5.2% in the 3rd quarter. Savant Capital LLC now owns 4,977 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 245 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in FB Financial by 6.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 4,705 shares of the financial services provider’s stock worth $262,000 after buying an additional 278 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of FB Financial by 155.9% during the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock valued at $27,000 after buying an additional 293 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of FB Financial by 4.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 7,613 shares of the financial services provider’s stock valued at $424,000 after acquiring an additional 299 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of FB Financial by 24.5% in the third quarter. GAMMA Investing LLC now owns 1,964 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 387 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on FBK. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and upped their price target for the company from $63.00 to $65.00 in a report on Friday, January 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.20.

FB Financial Price Performance

FBK stock opened at $51.47 on Wednesday. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $62.37. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 21.44 and a beta of 0.99. The business has a fifty day moving average price of $57.24 and a 200 day moving average price of $56.10.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The business had revenue of $178.36 million during the quarter, compared to analyst estimates of $176.30 million. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. During the same quarter last year, the business posted $0.85 earnings per share. On average, equities analysts expect that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were given a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. This is a boost from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s payout ratio is 35.00%.

Insider Transactions at FB Financial

In other FB Financial news, major shareholder James Austin Mcpherson sold 8,500 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $60.06, for a total value of $510,510.00. Following the sale, the insider owned 9,484 shares in the company, valued at approximately $569,609.04. The trade was a 47.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

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.