Jacobs Asset Management LLC Has $11.25 Million Stake in FB Financial Corporation (FBK)

Jacobs Asset Management LLC lessened its position in shares of FB Financial Corporation (NYSE:FBK) by 28.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 298,346 shares of the financial services provider’s stock after selling 116,654 shares during the quarter. FB Financial comprises approximately 2.1% of Jacobs Asset Management LLC’s portfolio, making the stock its 21st largest position. Jacobs Asset Management LLC owned about 0.98% of FB Financial worth $11,254,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FBK. Legal & General Group Plc grew its stake in shares of FB Financial by 70.9% in the third quarter. Legal & General Group Plc now owns 3,195 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 1,326 shares in the last quarter. Nationwide Fund Advisors grew its stake in shares of FB Financial by 78.1% during the second quarter. Nationwide Fund Advisors now owns 3,950 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,732 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of FB Financial during the first quarter worth $179,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of FB Financial during the third quarter worth $202,000. Finally, IFC Holdings Incorporated FL acquired a new position in shares of FB Financial during the second quarter worth $239,000. 35.34% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on FBK shares. Zacks Investment Research downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Monday, October 9th. Sandler O’Neill upgraded shares of FB Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $37.00 to $39.00 in a research note on Tuesday, August 15th. Raymond James Financial started coverage on shares of FB Financial in a research note on Tuesday, October 10th. They issued an “outperform” rating and a $41.00 price objective for the company. Keefe, Bruyette & Woods restated a “hold” rating and issued a $42.00 price objective on shares of FB Financial in a research note on Thursday, October 26th. Finally, ValuEngine upgraded shares of FB Financial from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. FB Financial presently has a consensus rating of “Buy” and an average target price of $42.33.

Shares of FB Financial Corporation (NYSE FBK) traded up $0.23 during trading hours on Thursday, hitting $42.48. 76,800 shares of the stock were exchanged, compared to its average volume of 75,989. FB Financial Corporation has a 1-year low of $23.30 and a 1-year high of $44.08. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1,289.77, a PE ratio of 21.78 and a beta of 2.19.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.13. The firm had revenue of $81.43 million during the quarter, compared to analysts’ expectations of $76.35 million. FB Financial had a net margin of 13.61% and a return on equity of 11.90%. equities research analysts forecast that FB Financial Corporation will post 2.05 earnings per share for the current fiscal year.

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About FB Financial

FB Financial Corporation is the holding company for FirstBank (the Bank). The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Bank provides a suite of commercial and consumer banking services to clients in select markets in Tennessee, North Alabama and North Georgia.

Institutional Ownership by Quarter for FB Financial (NYSE:FBK)

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