Jacobs Asset Management LLC Sells 50,000 Shares of FB Financial Corporation $FBK

Jacobs Asset Management LLC lowered its stake in shares of FB Financial Corporation (NYSE:FBK) by 50.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 50,000 shares of the financial services provider’s stock after selling 50,000 shares during the quarter. FB Financial makes up 1.6% of Jacobs Asset Management LLC’s holdings, making the stock its 23rd biggest position. Jacobs Asset Management LLC’s holdings in FB Financial were worth $2,790,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Leeward Investments LLC MA bought a new position in shares of FB Financial during the 3rd quarter valued at approximately $20,680,000. Certuity LLC boosted its holdings in FB Financial by 1,205.7% during the 3rd quarter. Certuity LLC now owns 268,039 shares of the financial services provider’s stock valued at $14,940,000 after acquiring an additional 247,511 shares during the period. Dana Investment Advisors Inc. purchased a new position in FB Financial during the 3rd quarter valued at $1,682,000. Banc Funds Co. LLC purchased a new position in FB Financial during the 3rd quarter valued at $9,949,000. Finally, Envestnet Asset Management Inc. boosted its holdings in FB Financial by 11.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 211,545 shares of the financial services provider’s stock valued at $11,791,000 after acquiring an additional 20,920 shares during the period. Institutional investors own 65.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Hovde Group dropped their price objective on FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price objective for the company in a report on Thursday, April 2nd. Keefe, Bruyette & Woods dropped their price objective on FB Financial from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, April 15th. Cantor Fitzgerald set a $65.00 price objective on FB Financial in a report on Wednesday, April 15th. Finally, Weiss Ratings upgraded FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $64.00.

FB Financial Trading Up 1.6%

Shares of FBK stock opened at $54.98 on Friday. FB Financial Corporation has a twelve month low of $42.29 and a twelve month high of $62.37. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 20.67 and a beta of 0.95. The stock has a fifty day simple moving average of $53.51 and a two-hundred day simple moving average of $55.44.

FB Financial (NYSE:FBK) last issued its 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 return on equity of 11.64% and a net margin of 14.26%.The firm had revenue of $172.71 million during the quarter, compared to analysts’ expectations of $175.45 million. During the same quarter in the prior year, the company posted $0.85 earnings per share. FB Financial’s quarterly revenue was up 31.8% compared to the same quarter last year. Research analysts predict that FB Financial Corporation will post 4.71 EPS for the current fiscal year.

FB Financial announced that its Board of Directors has authorized a stock buyback program on Monday, April 27th that permits the company to repurchase $175.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 6.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

FB Financial Announces Dividend

The company 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. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, May 12th. FB Financial’s dividend payout ratio is currently 31.58%.

About FB Financial

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.