Leeward Investments LLC MA Sells 9,903 Shares of FB Financial Corporation $FBK

Leeward Investments LLC MA lessened its stake in shares of FB Financial Corporation (NYSE:FBK) by 2.7% during the first quarter, HoldingsChannel.com reports. The fund owned 359,618 shares of the financial services provider’s stock after selling 9,903 shares during the quarter. Leeward Investments LLC MA’s holdings in FB Financial were worth $18,679,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Certuity LLC boosted its holdings in FB Financial by 1,205.7% in the third quarter. Certuity LLC now owns 268,039 shares of the financial services provider’s stock worth $14,940,000 after purchasing an additional 247,511 shares during the last quarter. Dana Investment Advisors Inc. purchased a new stake in FB Financial during the 3rd quarter valued at $1,682,000. Banc Funds Co. LLC purchased a new stake in FB Financial during the 3rd quarter valued at $9,949,000. Artemis Investment Management LLP bought a new position in shares of FB Financial during the 4th quarter valued at $1,875,000. Finally, Vanguard Group Inc. boosted its stake in shares of FB Financial by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 3,018,224 shares of the financial services provider’s stock worth $168,417,000 after buying an additional 60,430 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

FB Financial Trading Up 1.7%

FBK opened at $54.72 on Wednesday. The firm’s 50 day simple moving average is $53.42 and its two-hundred day simple moving average is $55.32. The company has a market capitalization of $2.82 billion, a PE ratio of 20.57 and a beta of 0.95. FB Financial Corporation has a 1-year low of $44.26 and a 1-year high of $62.37.

FB Financial (NYSE:FBK) last issued 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 business had revenue of $172.71 million for the quarter, compared to the consensus estimate of $175.45 million. FB Financial had a net margin of 14.26% and a return on equity of 11.64%. The company’s revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. Equities analysts forecast that FB Financial Corporation will post 4.71 earnings per share for the current fiscal year.

FB Financial announced that its Board of Directors has approved a share repurchase program on Monday, April 27th that authorizes the company to repurchase $175.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 6.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

FB Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FBK. Raymond James Financial raised FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a report on Tuesday, April 7th. Piper Sandler raised FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price on the stock in a research report on Thursday, April 2nd. Hovde Group dropped their target price on FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, April 27th. Keefe, Bruyette & Woods cut their price target on FB Financial from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, April 15th. Finally, Cantor Fitzgerald set a $65.00 price target on shares of FB Financial in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, FB Financial has a consensus rating of “Buy” and an average price target of $64.00.

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.