Penn Capital Management Company LLC Has $16.89 Million Holdings in FB Financial Corporation $FBK

Penn Capital Management Company LLC increased its position in shares of FB Financial Corporation (NYSE:FBK) by 9.2% during the 3rd quarter, HoldingsChannel.com reports. 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 makes up about 1.3% of Penn Capital Management Company LLC’s portfolio, making the stock its 22nd biggest holding. Penn Capital Management Company LLC’s holdings in FB Financial were worth $16,891,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Savant Capital LLC boosted its holdings in shares of FB Financial by 5.2% during the 3rd quarter. Savant Capital LLC now owns 4,977 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 245 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in FB Financial by 6.3% during 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 acquiring an additional 278 shares during the last quarter. UMB Bank n.a. raised its position in shares of FB Financial by 155.9% during the third quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 293 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of FB Financial by 4.1% in the third quarter. Quadrant Capital Group LLC now owns 7,613 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 299 shares during the period. Finally, GAMMA Investing LLC raised its holdings in FB Financial by 24.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,964 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 387 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $63.00 to $65.00 in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FB Financial in a research note on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.20.

Insiders Place Their Bets

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $60.06, for a total transaction of $510,510.00. Following the sale, the insider directly owned 9,484 shares in the company, valued at $569,609.04. This represents a 47.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is owned by insiders.

FB Financial Price Performance

NYSE FBK opened at $51.47 on Wednesday. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $62.37. The company has a fifty day moving average price of $57.24 and a 200-day moving average price of $56.10. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 21.44 and a beta of 0.99.

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

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were issued a dividend of $0.21 per share. This is a positive change from FB Financial’s previous quarterly dividend of $0.19. 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%. FB Financial’s payout ratio is currently 35.00%.

FB Financial Company 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.