Penn Capital Management Company LLC Decreases Stock Position in FB Financial Co. (NYSE:FBK)

Penn Capital Management Company LLC lessened its holdings in shares of FB Financial Co. (NYSE:FBK - Free Report) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 256,064 shares of the financial services provider's stock after selling 10,748 shares during the quarter. FB Financial makes up 1.3% of Penn Capital Management Company LLC's portfolio, making the stock its 27th largest holding. Penn Capital Management Company LLC owned 0.55% of FB Financial worth $13,190,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of FBK. Price T Rowe Associates Inc. MD grew its holdings in FB Financial by 12.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,293 shares of the financial services provider's stock valued at $1,097,000 after purchasing an additional 2,341 shares during the period. Tower Research Capital LLC TRC increased its stake in FB Financial by 11.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,418 shares of the financial services provider's stock worth $279,000 after buying an additional 569 shares in the last quarter. MetLife Investment Management LLC raised its holdings in FB Financial by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 21,533 shares of the financial services provider's stock valued at $1,109,000 after acquiring an additional 1,178 shares during the period. XTX Topco Ltd purchased a new position in shares of FB Financial in the 4th quarter worth $300,000. Finally, Mariner LLC increased its holdings in shares of FB Financial by 24.6% in the 4th quarter. Mariner LLC now owns 25,051 shares of the financial services provider's stock worth $1,290,000 after buying an additional 4,942 shares during the last quarter. Institutional investors own 65.40% of the company's stock.

FB Financial Trading Up 0.8 %

Shares of FB Financial stock traded up $0.32 on Tuesday, hitting $42.88. 79,856 shares of the company traded hands, compared to its average volume of 167,602. FB Financial Co. has a 52 week low of $34.50 and a 52 week high of $58.88. The company has a market cap of $2.00 billion, a PE ratio of 17.36 and a beta of 0.92. The stock's 50 day moving average price is $45.09 and its 200-day moving average price is $50.07.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. The firm had revenue of $130.67 million for the quarter, compared to analyst estimates of $132.28 million. During the same quarter last year, the firm posted $0.85 earnings per share. As a group, research analysts anticipate that FB Financial Co. will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, February 11th. This is an increase from FB Financial's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.77%. FB Financial's dividend payout ratio (DPR) is currently 27.94%.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers bought 2,000 shares of the business's stock in a transaction on Friday, January 31st. The shares were bought at an average price of $52.56 per share, for a total transaction of $105,120.00. Following the completion of the purchase, the insider now directly owns 10,919,841 shares of the company's stock, valued at approximately $573,946,842.96. This trade represents a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James W. Iv Cross purchased 7,200 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were purchased at an average cost of $40.49 per share, with a total value of $291,528.00. Following the completion of the transaction, the director now owns 61,278 shares of the company's stock, valued at approximately $2,481,146.22. The trade was a 13.31 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,200 shares of company stock valued at $701,468 over the last ninety days. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

FBK has been the topic of several analyst reports. Piper Sandler reduced their price objective on FB Financial from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Hovde Group raised shares of FB Financial from a "market perform" rating to an "outperform" rating and reduced their target price for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods lowered their target price on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. StockNews.com downgraded shares of FB Financial from a "hold" rating to a "sell" rating in a report on Monday. Finally, Stephens decreased their price objective on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $53.80.

FB Financial Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.