Principal Financial Group Inc. Purchases 6,612 Shares of FB Financial Co. (NYSE:FBK)

Principal Financial Group Inc. boosted its position in shares of FB Financial Co. (NYSE:FBK - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 186,201 shares of the financial services provider's stock after buying an additional 6,612 shares during the period. Principal Financial Group Inc. owned approximately 0.40% of FB Financial worth $9,591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its holdings in shares of FB Financial by 4.7% during the 3rd quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider's stock worth $57,529,000 after acquiring an additional 55,071 shares in the last quarter. Geode Capital Management LLC raised its stake in FB Financial by 0.9% during the third quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider's stock valued at $38,272,000 after purchasing an additional 7,021 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in FB Financial by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 373,345 shares of the financial services provider's stock valued at $17,521,000 after purchasing an additional 14,797 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in FB Financial by 1.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 234,264 shares of the financial services provider's stock valued at $12,067,000 after purchasing an additional 4,435 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of FB Financial by 5.1% in the 4th quarter. Empowered Funds LLC now owns 145,755 shares of the financial services provider's stock worth $7,508,000 after buying an additional 7,037 shares in the last quarter. 65.40% of the stock is owned by institutional investors.

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Insider Buying and Selling at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $51.86 per share, with a total value of $103,720.00. Following the transaction, the insider now owns 10,911,841 shares of the company's stock, valued at approximately $565,888,074.26. This trade represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 14,000 shares of company stock valued at $716,880 in the last ninety days. Corporate insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FBK. StockNews.com upgraded shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, January 22nd. Hovde Group downgraded FB Financial from an "outperform" rating to a "market perform" rating and set a $60.00 price objective on the stock. in a research report on Monday, November 18th. Finally, Keefe, Bruyette & Woods lifted their target price on FB Financial from $50.00 to $58.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $50.20.

FB Financial Stock Down 2.8 %

FB Financial stock traded down $1.41 during midday trading on Tuesday, reaching $49.07. The stock had a trading volume of 101,640 shares, compared to its average volume of 142,397. FB Financial Co. has a 52-week low of $33.35 and a 52-week high of $58.88. The company has a fifty day moving average of $51.71 and a 200 day moving average of $50.76. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 19.92 and a beta of 1.15.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. Equities research analysts predict 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. Stockholders of record on Tuesday, February 11th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, February 11th. This is a positive change from FB Financial's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.55%. FB Financial's dividend payout ratio (DPR) is 30.77%.

FB Financial Company 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.