Penn Capital Management Company LLC Increases Stock Position in FB Financial Corporation $FBK

Penn Capital Management Company LLC lifted its position in shares of FB Financial Corporation (NYSE:FBK) by 21.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 387,253 shares of the financial services provider’s stock after purchasing an additional 67,656 shares during the period. FB Financial makes up approximately 1.4% of Penn Capital Management Company LLC’s holdings, making the stock its 23rd biggest holding. Penn Capital Management Company LLC’s holdings in FB Financial were worth $21,456,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in FBK. Simplicity Wealth LLC boosted its holdings in FB Financial by 1.2% in the first quarter. Simplicity Wealth LLC now owns 16,197 shares of the financial services provider’s stock valued at $841,000 after acquiring an additional 190 shares during the last quarter. ProShare Advisors LLC increased its stake in FB Financial by 2.8% during the fourth quarter. ProShare Advisors LLC now owns 8,038 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 216 shares during the last quarter. Inspire Investing LLC increased its stake in FB Financial by 2.7% during the fourth quarter. Inspire Investing LLC now owns 8,368 shares of the financial services provider’s stock worth $467,000 after acquiring an additional 219 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in FB Financial by 1.2% during the first quarter. The Manufacturers Life Insurance Company now owns 20,048 shares of the financial services provider’s stock worth $1,041,000 after acquiring an additional 235 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of FB Financial by 4.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 7,613 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 299 shares during the period. 65.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on FBK. Weiss Ratings raised FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Raymond James Financial increased their target price 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. Keefe, Bruyette & Woods restated an “outperform” rating on shares of FB Financial in a report on Tuesday, July 14th. Finally, Benchmark lifted their price target on shares of FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat, FB Financial has a consensus rating of “Buy” and an average target price of $64.67.

FB Financial Trading Up 0.4%

Shares of NYSE FBK opened at $57.86 on Friday. The stock has a fifty day moving average price of $58.51 and a 200 day moving average price of $55.54. FB Financial Corporation has a 12-month low of $49.24 and a 12-month high of $62.65. The company has a market cap of $2.89 billion, a P/E ratio of 15.51 and a beta of 0.94.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Monday, July 13th. The financial services provider reported $1.14 EPS for the quarter, hitting analysts’ consensus estimates of $1.14. FB Financial had a return on equity of 12.08% and a net margin of 19.00%.The company had revenue of $175.94 million for the quarter, compared to analysts’ expectations of $177.45 million. On average, sell-side analysts forecast that FB Financial Corporation will post 4.67 EPS for the current fiscal year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 11th. FB Financial’s dividend payout ratio (DPR) is presently 22.52%.

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.