Principal Financial Group Inc. Has $8.43 Million Position in FB Financial Co. (NYSE:FBK)

Principal Financial Group Inc. lessened its stake in FB Financial Co. (NYSE:FBK) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 179,589 shares of the financial services provider’s stock after selling 10,380 shares during the period. Principal Financial Group Inc. owned about 0.38% of FB Financial worth $8,428,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in shares of FB Financial during the 3rd quarter valued at about $84,000. SG Americas Securities LLC purchased a new stake in shares of FB Financial in the first quarter worth approximately $165,000. Renaissance Technologies LLC purchased a new stake in shares of FB Financial in the second quarter worth approximately $217,000. ProShare Advisors LLC raised its stake in shares of FB Financial by 7.4% in the first quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 494 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of FB Financial by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 1,067 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers purchased 1,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of $57.15 per share, with a total value of $57,150.00. Following the completion of the acquisition, the insider now directly owns 10,909,841 shares of the company’s stock, valued at approximately $623,497,413.15. The trade was a 0.01 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James W. Iv Cross sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $58.22, for a total value of $291,100.00. Following the completion of the transaction, the director now directly owns 54,078 shares of the company’s stock, valued at $3,148,421.16. The trade was a 8.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 13,000 shares of company stock valued at $658,460 over the last ninety days. 1.70% of the stock is currently owned by insiders.

FB Financial Trading Down 1.9 %

Shares of FBK opened at $54.78 on Tuesday. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 24.38 and a beta of 1.12. The stock has a 50 day moving average of $48.80 and a 200 day moving average of $43.84. FB Financial Co. has a 12 month low of $32.09 and a 12 month high of $58.88.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The business had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. During the same period last year, the business posted $0.71 earnings per share. As a group, equities research analysts predict that FB Financial Co. will post 3.38 earnings per share for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Tuesday, November 5th. FB Financial’s dividend payout ratio is currently 29.69%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FBK. Keefe, Bruyette & Woods increased their price objective on FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 16th. StockNews.com downgraded FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Finally, Hovde Group downgraded FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a research report on Monday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, FB Financial currently has an average rating of “Hold” and a consensus target price of $48.60.

FB Financial Company 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.