19,842 FB Financial Corporation $FBK Shares Sold by Leeward Investments LLC MA

Key Points

• Leeward Investments reduced its FB Financial stake by 5.6%, selling 19,842 shares and retaining 332,035 shares valued at approximately $17.2 million. Institutional investors and hedge funds collectively own 65.4% of the company.
• Analysts maintain a favorable outlook, with the stock carrying a consensus “Buy” rating and an average price target of $64.43, compared with a recent share price of $53.51.
• FB Financial reported quarterly EPS of $1.21, matching expectations, and declared a quarterly dividend of $0.21, representing a 1.6% annualized yield. Director Orrin Ingram also bought 29,081 shares worth roughly $1.54 million.

Leeward Investments LLC MA trimmed its stake in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 332,035 shares of the financial services provider's stock after selling 19,842 shares during the quarter. Leeward Investments LLC MA owned about 0.66% of FB Financial worth $17,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FBK. BlackRock Inc. purchased a new position in shares of FB Financial in the 2nd quarter valued at approximately $348,592,000. Bank of America Corp DE purchased a new stake in shares of FB Financial during the second quarter worth approximately $39,460,000. Davis Asset Management L.P. purchased a new stake in shares of FB Financial during the second quarter worth approximately $34,275,000. Jupiter Topco LLC acquired a new stake in shares of FB Financial during the second quarter worth $21,338,000. Finally, William Blair Investment Management LLC acquired a new stake in shares of FB Financial during the second quarter worth $20,028,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Truist Financial set a $64.00 price objective on shares of FB Financial in a research report on Wednesday, October 14th. Benchmark boosted their price objective on shares of FB Financial from $64.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. Raymond James Financial upped their price objective on shares of FB Financial from $62.00 to $63.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded shares of FB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of FB Financial from $65.00 to $64.00 and set an "outperform" rating for the company in a research note on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $64.43.

FB Financial Trading Up 0.1%

Shares of FBK opened at $53.51 on Monday. FB Financial Corporation has a twelve month low of $49.24 and a twelve month high of $62.65. The stock's 50 day moving average is $54.57 and its two-hundred day moving average is $55.28. The firm has a market capitalization of $2.67 billion, a PE ratio of 11.89 and a beta of 0.98.

FB Financial (NYSE:FBK - Get Free Report) last released its earnings results on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.21. The company had revenue of $175.62 million for the quarter, compared to analysts' expectations of $181.56 million. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. On average, sell-side analysts predict that FB Financial Corporation will post 4.65 EPS for the current year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 10th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, November 10th. FB Financial's dividend payout ratio (DPR) is currently 18.67%.

Insider Buying and Selling at FB Financial

In other FB Financial news, Director Orrin Ingram, II purchased 29,081 shares of the firm's stock in a transaction that occurred on Tuesday, October 20th. The shares were 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 in the company, valued at $6,577,796.08. This represents a 30.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

FB Financial Profile

FB Financial Corporation NYSE: FBK is a financial services holding company headquartered in Nashville, Tennessee. Its principal subsidiary, FirstBank, provides banking and financial services to individuals, businesses and institutions through a network of branches and digital banking channels.

FirstBank offers deposit accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, and wealth-management solutions. Its lending activities include residential mortgages, commercial real estate, business loans and consumer credit products.

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