Leeward Investments LLC MA Trims Holdings in FB Financial Corporation $FBK

Leeward Investments LLC MA trimmed its holdings in FB Financial Corporation (NYSE:FBK) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,618 shares of the financial services provider’s stock after selling 9,903 shares during the quarter. Leeward Investments LLC MA owned about 0.69% of FB Financial worth $18,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in FB Financial by 1,690,485.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock worth $174,519,000 after acquiring an additional 3,127,398 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of FB Financial by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,018,224 shares of the financial services provider’s stock valued at $168,417,000 after purchasing an additional 60,430 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of FB Financial by 5.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,019,971 shares of the financial services provider’s stock valued at $112,592,000 after purchasing an additional 109,318 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of FB Financial by 171.3% during the fourth quarter. Wellington Management Group LLP now owns 1,729,622 shares of the financial services provider’s stock valued at $96,513,000 after purchasing an additional 1,092,126 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of FB Financial by 4.9% during the second quarter. State Street Corp now owns 1,621,116 shares of the financial services provider’s stock valued at $73,437,000 after purchasing an additional 75,951 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price target on the stock in a research note on Thursday, April 2nd. Raymond James Financial upgraded FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods dropped their target price on FB Financial from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, April 15th. Cantor Fitzgerald set a $65.00 target price on FB Financial in a research note on Wednesday, April 15th. Finally, Weiss Ratings raised FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $64.00.

FB Financial Stock Performance

Shares of NYSE FBK opened at $54.72 on Wednesday. The firm’s 50 day moving average price is $53.42 and its 200-day moving average price is $55.32. FB Financial Corporation has a 52-week low of $44.26 and a 52-week high of $62.37. The company has a market cap of $2.82 billion, a PE ratio of 20.57 and a beta of 0.95.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Monday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). FB Financial had a net margin of 14.26% and a return on equity of 11.64%. The firm had revenue of $172.71 million for the quarter, compared to the consensus estimate of $175.45 million. During the same period last year, the business earned $0.85 EPS. FB Financial’s revenue was up 31.8% on a year-over-year basis. On average, analysts forecast that FB Financial Corporation will post 4.71 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. FB Financial’s dividend payout ratio (DPR) is presently 31.58%.

FB Financial declared that its Board of Directors has initiated a share repurchase plan on Monday, April 27th that allows the company to buyback $175.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 6.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.