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

Jacobs Asset Management LLC lessened its holdings in shares of FB Financial Corporation (NYSE:FBK) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,000 shares of the financial services provider’s stock after selling 50,000 shares during the quarter. FB Financial comprises 1.6% of Jacobs Asset Management LLC’s portfolio, making the stock its 23rd biggest holding. Jacobs Asset Management LLC owned 0.09% of FB Financial worth $2,790,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Barclays PLC raised its stake in FB Financial by 32.2% during the 4th quarter. Barclays PLC now owns 94,255 shares of the financial services provider’s stock valued at $5,259,000 after purchasing an additional 22,931 shares during the period. Schroder Investment Management Group raised its stake in FB Financial by 35.0% during the 4th quarter. Schroder Investment Management Group now owns 317,281 shares of the financial services provider’s stock valued at $17,860,000 after purchasing an additional 82,311 shares during the period. Charles Schwab Investment Management Inc. raised its stake in FB Financial by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 480,497 shares of the financial services provider’s stock valued at $26,812,000 after purchasing an additional 12,382 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in FB Financial by 5.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,594 shares of the financial services provider’s stock valued at $3,549,000 after purchasing an additional 3,522 shares during the period. Finally, DRW Securities LLC raised its stake in FB Financial by 20.3% during the 4th quarter. DRW Securities LLC now owns 26,162 shares of the financial services provider’s stock valued at $1,460,000 after purchasing an additional 4,406 shares during the period. Institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

FBK has been the topic of several recent analyst reports. Weiss Ratings raised FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 22nd. Hovde Group reduced their price objective on FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Raymond James Financial raised FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price objective on the stock in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods reduced their price objective on FB Financial from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 15th. Finally, Cantor Fitzgerald set a $65.00 price objective on FB Financial in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat, FB Financial presently has a consensus rating of “Buy” and an average price target of $64.00.

FB Financial Price Performance

NYSE:FBK opened at $54.98 on Friday. FB Financial Corporation has a 1 year low of $42.29 and a 1 year high of $62.37. The stock’s 50 day simple moving average is $53.51 and its two-hundred day simple moving average is $55.44. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 20.67 and a beta of 0.95.

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

FB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. FB Financial’s payout ratio is currently 31.58%.

FB Financial declared that its board has authorized a stock buyback plan on Monday, April 27th that authorizes the company to buyback $175.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 6.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board 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.