Penn Capital Management Company LLC Has $13.19 Million Position in FB Financial Co. (NYSE:FBK)

Penn Capital Management Company LLC lowered its holdings in FB Financial Co. (NYSE:FBK - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 256,064 shares of the financial services provider's stock after selling 10,748 shares during the quarter. FB Financial comprises about 1.3% of Penn Capital Management Company LLC's investment portfolio, making the stock its 27th largest position. Penn Capital Management Company LLC owned 0.55% of FB Financial worth $13,190,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FBK. GAMMA Investing LLC raised its holdings in shares of FB Financial by 45.2% in the fourth quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider's stock valued at $52,000 after buying an additional 314 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of FB Financial by 810.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider's stock worth $58,000 after acquiring an additional 997 shares during the last quarter. KBC Group NV lifted its position in shares of FB Financial by 36.2% during the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider's stock worth $108,000 after purchasing an additional 555 shares in the last quarter. LPL Financial LLC bought a new stake in shares of FB Financial during the fourth quarter valued at approximately $206,000. Finally, Lbmc Investment Advisors LLC bought a new stake in shares of FB Financial during the fourth quarter valued at approximately $220,000. Institutional investors own 65.40% of the company's stock.

FB Financial Trading Down 0.2 %

Shares of NYSE:FBK traded down $0.09 during mid-day trading on Friday, reaching $42.21. The stock had a trading volume of 261,019 shares, compared to its average volume of 167,794. The firm has a market cap of $1.97 billion, a PE ratio of 17.09 and a beta of 0.92. The firm has a 50 day simple moving average of $45.28 and a two-hundred day simple moving average of $50.07. FB Financial Co. has a twelve month low of $34.50 and a twelve month high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $130.67 million during the quarter, compared to analyst estimates of $132.28 million. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. During the same quarter in the previous year, the business earned $0.85 EPS. On average, equities 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 issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from FB Financial's previous quarterly dividend of $0.17. FB Financial's payout ratio is 27.94%.

Wall Street Analysts Forecast Growth

FBK has been the topic of several research reports. Keefe, Bruyette & Woods reduced their price objective on FB Financial from $58.00 to $52.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Piper Sandler decreased their price target on FB Financial from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. StockNews.com raised FB Financial from a "sell" rating to a "hold" rating in a report on Wednesday, January 22nd. Stephens lowered their price target on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, Hovde Group upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and cut their price objective for the company from $60.00 to $59.00 in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $53.80.

Insider Buying and Selling

In related news, Director James W. Iv Cross acquired 7,200 shares of the stock in a transaction dated Wednesday, April 16th. The stock was bought at an average price of $40.49 per share, with a total value of $291,528.00. Following the completion of the transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder James W. Ayers acquired 2,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $48.51 per share, for a total transaction of $97,020.00. Following the completion of the acquisition, the insider now owns 10,931,841 shares of the company's stock, valued at $530,303,606.91. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 15,200 shares of company stock valued at $701,468. 1.90% of the stock is owned by corporate insiders.

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.