Stieven Capital Advisors L.P. Makes New Investment in FB Financial Corporation $FBK

Stieven Capital Advisors L.P. acquired a new position in shares of FB Financial Corporation (NYSE:FBK) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 107,716 shares of the financial services provider’s stock, valued at approximately $6,004,000. Stieven Capital Advisors L.P. owned 0.20% of FB Financial at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC grew its stake in FB Financial by 23.8% during the 1st quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock worth $2,752,000 after purchasing an additional 11,414 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in FB Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock worth $980,000 after purchasing an additional 930 shares during the period. Millennium Management LLC raised its position in FB Financial by 11.8% in the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock valued at $16,419,000 after purchasing an additional 37,385 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in FB Financial in the 1st quarter valued at about $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of FB Financial by 39.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock valued at $3,715,000 after buying an additional 22,662 shares during the period. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FBK shares. Piper Sandler downgraded FB Financial from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $63.00 to $65.00 in a research report on Friday, January 23rd. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of FB Financial in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

Insiders Place Their Bets

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $60.06, for a total value of $510,510.00. Following the completion of the sale, the insider directly owned 9,484 shares of the company’s stock, valued at $569,609.04. The trade was a 47.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by company insiders.

FB Financial Stock Up 0.0%

FBK stock opened at $51.15 on Friday. The business has a 50 day moving average price of $57.46 and a 200 day moving average price of $56.09. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 21.31 and a beta of 0.99. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $62.37.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.14 by $0.02. The company had revenue of $178.36 million for the quarter, compared to analyst estimates of $176.30 million. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. During the same period in the prior year, the firm posted $0.85 earnings per share. As a group, sell-side analysts anticipate that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, February 10th. This represents a $0.84 annualized dividend and a yield of 1.6%. This is an increase from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s dividend payout ratio (DPR) is 35.00%.

FB Financial Company 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.