Northern Trust Corp Sells 9,966 Shares of FB Financial Corporation $FBK

Northern Trust Corp lessened its stake in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 414,916 shares of the financial services provider's stock after selling 9,966 shares during the quarter. Northern Trust Corp owned about 0.90% of FB Financial worth $19,236,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Nuveen LLC bought a new stake in shares of FB Financial during the 1st quarter worth about $39,275,000. Bridgeway Capital Management LLC boosted its stake in shares of FB Financial by 1.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 394,155 shares of the financial services provider's stock worth $20,303,000 after acquiring an additional 7,037 shares in the last quarter. Millennium Management LLC boosted its stake in shares of FB Financial by 17.8% during the 4th quarter. Millennium Management LLC now owns 316,771 shares of the financial services provider's stock worth $16,317,000 after acquiring an additional 47,761 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of FB Financial by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider's stock worth $14,136,000 after acquiring an additional 3,492 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of FB Financial by 29.0% during the 4th quarter. Nuveen Asset Management LLC now owns 259,809 shares of the financial services provider's stock worth $13,383,000 after acquiring an additional 58,402 shares in the last quarter. Institutional investors own 65.40% of the company's stock.

Wall Street Analyst Weigh In

FBK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and increased their target price for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Wall Street Zen downgraded FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, FB Financial presently has a consensus rating of "Buy" and a consensus target price of $58.25.

FB Financial Stock Down 0.9%

FB Financial stock traded down $0.47 during trading hours on Friday, hitting $53.68. The stock had a trading volume of 218,059 shares, compared to its average volume of 348,846. The company has a 50-day moving average of $49.61 and a two-hundred day moving average of $46.37. The company has a market cap of $2.89 billion, a PE ratio of 27.81 and a beta of 0.93. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly earnings results on Monday, July 14th. The financial services provider reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). FB Financial had a net margin of 11.46% and a return on equity of 10.15%. The firm had revenue of $76.86 million during the quarter, compared to analyst estimates of $136.32 million. As a group, analysts forecast that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 12th. FB Financial's dividend payout ratio (DPR) is currently 39.38%.

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.