Northern Trust Corp Purchases 56,474 Shares of FB Financial Co. (NYSE:FBK)

Northern Trust Corp raised its stake in shares of FB Financial Co. (NYSE:FBK - Free Report) by 15.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 424,882 shares of the financial services provider's stock after buying an additional 56,474 shares during the period. Northern Trust Corp owned 0.91% of FB Financial worth $21,886,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in FB Financial by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider's stock worth $3,134,000 after acquiring an additional 4,918 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of FB Financial by 39.7% during the 4th quarter. SG Americas Securities LLC now owns 19,850 shares of the financial services provider's stock worth $1,022,000 after purchasing an additional 5,642 shares during the last quarter. GAMMA Investing LLC boosted its stake in FB Financial by 45.2% during the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 314 shares during the period. Barclays PLC grew its holdings in FB Financial by 58.3% in the 3rd quarter. Barclays PLC now owns 94,062 shares of the financial services provider's stock valued at $4,415,000 after buying an additional 34,633 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in FB Financial by 136.2% in the 4th quarter. Intech Investment Management LLC now owns 16,595 shares of the financial services provider's stock valued at $855,000 after buying an additional 9,570 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company's stock.

Insider Activity at FB Financial

In other news, major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $48.51 per share, with a total value of $97,020.00. Following the acquisition, the insider now owns 10,931,841 shares in the company, valued at $530,303,606.91. This represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James W. Iv Cross acquired 7,200 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was purchased at an average price of $40.49 per share, with a total value of $291,528.00. Following the completion of the transaction, the director now owns 61,278 shares of the company's stock, valued at approximately $2,481,146.22. This trade represents a 13.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

FB Financial Stock Down 0.4%

FB Financial stock traded down $0.19 on Friday, hitting $45.75. The company's stock had a trading volume of 177,533 shares, compared to its average volume of 176,178. FB Financial Co. has a one year low of $34.50 and a one year high of $58.88. The firm has a market cap of $2.10 billion, a P/E ratio of 18.52 and a beta of 0.93. The company has a fifty day moving average price of $44.04 and a 200-day moving average price of $49.68.

FB Financial (NYSE:FBK - Get Free Report) last posted its earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, meeting analysts' consensus estimates of $0.85. The business had revenue of $130.67 million for the quarter, compared to analysts' expectations of $132.28 million. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Analysts anticipate that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.76 annualized dividend and a yield of 1.66%. FB Financial's dividend payout ratio is currently 27.94%.

Analyst Ratings Changes

FBK has been the subject of several research reports. Hovde Group raised FB Financial from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from $60.00 to $59.00 in a research report on Tuesday, April 1st. StockNews.com raised shares of FB Financial from a "sell" rating to a "hold" rating in a report on Tuesday. Piper Sandler decreased their price target on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Stephens cut their price objective on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods reduced their target price on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, FB Financial has an average rating of "Hold" and a consensus price target of $53.80.

About FB Financial

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.