Stieven Capital Advisors L.P. Takes $6 Million Position in FB Financial Corporation $FBK

Stieven Capital Advisors L.P. bought a new stake in FB Financial Corporation (NYSE:FBK) in the third quarter, HoldingsChannel reports. The fund bought 107,716 shares of the financial services provider’s stock, valued at approximately $6,004,000.

A number of other hedge funds have also recently added to or reduced their stakes in FBK. Investors Research Corp purchased a new stake in FB Financial in the third quarter valued at approximately $26,000. UMB Bank n.a. boosted its holdings in shares of FB Financial by 155.9% in the third quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 293 shares during the period. Tripletail Wealth Management LLC purchased a new position in shares of FB Financial during the third quarter worth approximately $31,000. Bessemer Group Inc. grew its position in shares of FB Financial by 294.7% during the third quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 557 shares during the last quarter. Finally, First Horizon Corp acquired a new position in shares of FB Financial in the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Price Performance

Shares of NYSE FBK opened at $51.15 on Friday. The stock has a fifty day moving average price of $57.46 and a 200 day moving average price of $56.09. FB Financial Corporation has a 1-year low of $38.83 and a 1-year high of $62.37. The company has a market cap of $2.65 billion, a PE ratio of 21.31 and a beta of 0.99.

FB Financial (NYSE:FBK) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.02. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. The business had revenue of $178.36 million for the quarter, compared to the consensus estimate of $176.30 million. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Analysts anticipate that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The company also recently disclosed 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 was Tuesday, February 10th. This is an increase from FB Financial’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. FB Financial’s payout ratio is 35.00%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of FB Financial in a research report on Thursday, January 22nd. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Finally, Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $63.00 to $65.00 in a research note on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, FB Financial has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

Insiders Place Their Bets

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 transaction of $510,510.00. Following the transaction, 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

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.