Principal Financial Group Inc. Has $8.43 Million Stock Position in FB Financial Co. (NYSE:FBK)

Principal Financial Group Inc. cut its position in shares of FB Financial Co. (NYSE:FBK - Free Report) by 5.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 179,589 shares of the financial services provider's stock after selling 10,380 shares during the quarter. Principal Financial Group Inc. owned 0.38% of FB Financial worth $8,428,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in FB Financial during the third quarter valued at approximately $84,000. SG Americas Securities LLC bought a new stake in shares of FB Financial during the 1st quarter worth $165,000. Renaissance Technologies LLC acquired a new position in shares of FB Financial in the 2nd quarter worth $217,000. ProShare Advisors LLC raised its position in shares of FB Financial by 7.4% during the first quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider's stock worth $269,000 after purchasing an additional 494 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of FB Financial by 17.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider's stock valued at $277,000 after purchasing an additional 1,067 shares during the last quarter. Institutional investors own 65.40% of the company's stock.

FB Financial Stock Down 0.5 %

Shares of FBK traded down $0.28 during trading hours on Tuesday, reaching $54.50. The company's stock had a trading volume of 28,127 shares, compared to its average volume of 148,165. The company has a 50 day moving average of $48.99 and a two-hundred day moving average of $43.96. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 23.92 and a beta of 1.12. FB Financial Co. has a 1-year low of $32.09 and a 1-year high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The company had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. During the same quarter in the prior year, the firm earned $0.71 EPS. As a group, analysts forecast that FB Financial Co. will post 3.38 EPS for the current fiscal year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. FB Financial's dividend payout ratio (DPR) is currently 29.69%.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the company's stock in a transaction dated Friday, October 25th. The shares were bought at an average price of $48.13 per share, for a total transaction of $96,260.00. Following the purchase, the insider now directly owns 10,902,341 shares in the company, valued at $524,729,672.33. This trade represents a 0.02 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James W. Iv Cross sold 5,000 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $58.22, for a total transaction of $291,100.00. Following the transaction, the director now owns 54,078 shares in the company, valued at $3,148,421.16. This represents a 8.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 13,000 shares of company stock valued at $658,460 in the last three months. Insiders own 1.70% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on FBK. StockNews.com cut FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, November 8th. Hovde Group downgraded shares of FB Financial from an "outperform" rating to a "market perform" rating and set a $60.00 target price on the stock. in a research report on Monday. Finally, Keefe, Bruyette & Woods upped their price target on shares of FB Financial from $48.00 to $50.00 and gave the company a "market perform" rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $48.60.

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.