Principal Financial Group Inc. lifted its position in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 3.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 192,645 shares of the financial services provider's stock after acquiring an additional 6,444 shares during the period. Principal Financial Group Inc. owned 0.41% of FB Financial worth $8,931,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of FBK. Charles Schwab Investment Management Inc. increased its holdings in shares of FB Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 376,288 shares of the financial services provider's stock worth $19,383,000 after acquiring an additional 2,943 shares during the period. Raymond James Financial Inc. bought a new position in FB Financial in the 4th quarter worth approximately $9,546,000. Amundi grew its holdings in FB Financial by 185.9% in the 4th quarter. Amundi now owns 17,611 shares of the financial services provider's stock worth $885,000 after buying an additional 11,452 shares in the last quarter. 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 worth $855,000 after buying an additional 9,570 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in FB Financial by 1.6% in the 4th quarter. Teacher Retirement System of Texas now owns 25,528 shares of the financial services provider's stock worth $1,315,000 after buying an additional 412 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. Stephens decreased their price objective on FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Piper Sandler decreased their price objective on FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Keefe, Bruyette & Woods raised FB Financial from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $52.00 to $58.00 in a report on Friday, July 11th. Wall Street Zen raised FB Financial from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Hovde Group raised FB Financial from a "market perform" rating to an "outperform" rating and dropped their target price for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.25.
View Our Latest Stock Report on FB Financial
FB Financial Stock Up 2.3%
FBK traded up $1.06 during trading on Wednesday, reaching $48.02. The stock had a trading volume of 787,831 shares, compared to its average volume of 203,972. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 24.88 and a beta of 0.91. FB Financial Corporation has a 1-year low of $38.83 and a 1-year high of $58.88. The stock has a 50 day moving average of $45.01 and a two-hundred day moving average of $46.82.
FB Financial (NYSE:FBK - Get Free Report) last released its earnings results on Monday, July 14th. The financial services provider reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.01). The firm had revenue of $76.86 million during the quarter, compared to analyst estimates of $136.32 million. FB Financial had a return on equity of 10.20% and a net margin of 11.46%. On average, research analysts forecast that FB Financial Corporation will post 3.64 EPS for the current fiscal year.
FB Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a $0.19 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.58%. FB Financial's dividend payout ratio (DPR) is 39.38%.
About FB Financial
(
Free Report)
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.
See Also
Before you consider FB Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FB Financial wasn't on the list.
While FB Financial currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
