Principal Financial Group Inc. Grows Position in FB Financial Co. (NYSE:FBK)

Principal Financial Group Inc. raised its holdings in shares of FB Financial Co. (NYSE:FBK) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,201 shares of the financial services provider’s stock after buying an additional 6,612 shares during the quarter. Principal Financial Group Inc. owned about 0.40% of FB Financial worth $9,591,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of FBK. Wasatch Advisors LP grew its holdings in shares of FB Financial by 4.7% during the third quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider’s stock worth $57,529,000 after buying an additional 55,071 shares in the last quarter. Rosenthal Henry Capital Advisors Inc. acquired a new position in shares of FB Financial during the 3rd quarter valued at about $1,935,000. Jane Street Group LLC boosted its position in shares of FB Financial by 120.6% during the 3rd quarter. Jane Street Group LLC now owns 71,487 shares of the financial services provider’s stock valued at $3,355,000 after acquiring an additional 39,086 shares during the last quarter. Barclays PLC boosted its position in shares of FB Financial by 58.3% during the 3rd quarter. Barclays PLC now owns 94,062 shares of the financial services provider’s stock valued at $4,415,000 after acquiring an additional 34,633 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of FB Financial during the 3rd quarter valued at about $1,557,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Price Performance

NYSE FBK opened at $50.46 on Friday. The firm’s 50-day moving average is $51.74 and its two-hundred day moving average is $50.61. FB Financial Co. has a 12 month low of $33.35 and a 12 month high of $58.88. The stock has a market capitalization of $2.35 billion, a P/E ratio of 20.43 and a beta of 1.15.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. As a group, analysts anticipate that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.76 dividend on an annualized basis and a yield of 1.51%. This is a boost from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s dividend payout ratio is presently 30.77%.

Analysts Set New Price Targets

FBK has been the topic of several recent research reports. Keefe, Bruyette & Woods boosted their price target on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Hovde Group cut shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target on the stock. in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.20.

Insider Buying and Selling at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $52.56 per share, for a total transaction of $105,120.00. Following the completion of the purchase, the insider now directly owns 10,919,841 shares of the company’s stock, valued at approximately $573,946,842.96. This trade represents a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 14,000 shares of company stock valued at $716,880 over the last 90 days. 1.70% of the stock is owned by insiders.

FB Financial 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.