FB Financial Corporation $FBK Stock Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC decreased its holdings in shares of FB Financial Corporation (NYSE:FBK) by 7.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 360,036 shares of the financial services provider’s stock after selling 27,217 shares during the quarter. FB Financial makes up 1.4% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 24th largest position. Penn Capital Management Company LLC’s holdings in FB Financial were worth $18,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of FBK. Corient Private Wealth LP acquired a new stake in FB Financial during the 2nd quarter worth about $1,202,000. Jupiter Topco LLC acquired a new position in shares of FB Financial in the 2nd quarter valued at about $21,338,000. Dimensional Fund Advisors LP increased its holdings in shares of FB Financial by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock valued at $103,905,000 after purchasing an additional 28,023 shares during the period. Bank of America Corp DE acquired a new position in shares of FB Financial in the 2nd quarter valued at about $39,460,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of FB Financial in the second quarter worth approximately $20,028,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on FBK shares. Truist Financial set a $64.00 price target on shares of FB Financial in a report on Wednesday, October 14th. Benchmark increased their target price on shares of FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of FB Financial in a research note on Wednesday, October 14th. Wall Street Zen lowered shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods lowered their price target on shares of FB Financial from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat, FB Financial currently has an average rating of “Buy” and a consensus price target of $64.43.

FB Financial Price Performance

FBK opened at $55.17 on Tuesday. FB Financial Corporation has a fifty-two week low of $49.24 and a fifty-two week high of $62.65. The business has a 50-day moving average of $53.61 and a 200-day moving average of $55.28. The company has a market capitalization of $2.70 billion, a PE ratio of 12.03 and a beta of 0.97.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. The business had revenue of $175.62 million during the quarter, compared to analyst estimates of $181.56 million. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. On average, equities research analysts expect that FB Financial Corporation will post 4.65 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, November 10th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, November 10th. FB Financial’s dividend payout ratio (DPR) is presently 18.67%.

Insiders Place Their Bets

In other FB Financial news, Director Orrin Ingram, II bought 29,081 shares of FB Financial stock in a transaction on Tuesday, October 20th. The stock was purchased at an average cost of $52.88 per share, for a total transaction of $1,537,803.28. Following the completion of the purchase, the director directly owned 124,391 shares of the company’s stock, valued at $6,577,796.08. The trade was a 30.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

FB Financial Profile

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. It operates primarily through FirstBank, which provides banking services to individuals, businesses and organizations.

Its offerings include deposit accounts, consumer and commercial loans, mortgage banking, treasury management and wealth management services. FirstBank traces its roots to 1906 and serves customers across Tennessee and other parts of the southeastern United States.