Northwestern Mutual Wealth Management Co. Has $174.52 Million Holdings in FB Financial Corporation $FBK

Key Points

• Northwestern Mutual Wealth Management Co. dramatically increased its FB Financial stake in Q4, ending with 3.13 million shares worth about $174.5 million and owning 5.85% of the company.
• Several other institutional investors also adjusted positions, and overall 65.4% of FB Financial is owned by institutions and hedge funds, signaling strong professional interest in the stock.
• Analysts remain broadly positive: the stock carries a Buy consensus rating with an average price target of $64, while the company also recently announced a $175 million share repurchase program and a quarterly dividend of $0.21 per share.

Northwestern Mutual Wealth Management Co. raised its holdings in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 1,690,485.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,127,583 shares of the financial services provider's stock after purchasing an additional 3,127,398 shares during the period. Northwestern Mutual Wealth Management Co. owned 5.85% of FB Financial worth $174,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Swmg LLC lifted its position in FB Financial by 13.7% during the 4th quarter. Swmg LLC now owns 4,810 shares of the financial services provider's stock valued at $296,000 after purchasing an additional 578 shares during the period. 12th Street Asset Management Company LLC lifted its stake in shares of FB Financial by 16.5% in the 4th quarter. 12th Street Asset Management Company LLC now owns 246,271 shares of the financial services provider's stock valued at $13,742,000 after purchasing an additional 34,873 shares during the period. Fisher Asset Management LLC acquired a new position in shares of FB Financial in the 4th quarter valued at $269,000. William Blair Investment Management LLC acquired a new position in shares of FB Financial in the 4th quarter valued at $26,963,000. Finally, Legato Capital Management LLC acquired a new position in shares of FB Financial in the 4th quarter valued at $1,057,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on FB Financial from $67.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 15th. Weiss Ratings upgraded shares of FB Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, April 22nd. Cantor Fitzgerald set a $65.00 price target on shares of FB Financial in a research report on Wednesday, April 15th. Raymond James Financial upgraded shares of FB Financial from a "market perform" rating to a "strong-buy" rating and set a $62.00 price target on the stock in a research report on Tuesday, April 7th. Finally, Piper Sandler raised FB Financial from a "neutral" rating to an "overweight" rating and set a $65.00 price objective on the stock in a research note on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, FB Financial presently has a consensus rating of "Buy" and an average price target of $64.00.

FB Financial Stock Performance

Shares of FBK stock opened at $53.06 on Friday. The company has a market capitalization of $2.73 billion, a P/E ratio of 19.95 and a beta of 0.97. The company's 50 day moving average price is $53.16 and its two-hundred day moving average price is $55.51. FB Financial Corporation has a 52 week low of $42.29 and a 52 week high of $62.37.

FB Financial (NYSE:FBK - Get Free Report) last announced its earnings results on Monday, April 13th. The financial services provider reported $1.12 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.01). The company had revenue of $172.71 million for the quarter, compared to analyst estimates of $175.45 million. FB Financial had a return on equity of 11.64% and a net margin of 14.26%.The business's quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. Analysts forecast that FB Financial Corporation will post 4.71 earnings per share for the current year.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. FB Financial's dividend payout ratio (DPR) is currently 31.58%.

FB Financial announced that its Board of Directors has approved a share repurchase plan on Monday, April 27th that permits the company to repurchase $175.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 6.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

FB Financial Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company's core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial's service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.

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