Principal Financial Group Inc. Sells 10,380 Shares of FB Financial Co. (NYSE:FBK)

Principal Financial Group Inc. decreased its holdings in shares of FB Financial Co. (NYSE:FBK) by 5.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 179,589 shares of the financial services provider’s stock after selling 10,380 shares during the period. Principal Financial Group Inc.’s holdings in FB Financial were worth $8,428,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System boosted its stake in FB Financial by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider’s stock valued at $691,000 after buying an additional 300 shares during the period. SummerHaven Investment Management LLC boosted its stake in FB Financial by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 412 shares during the period. Victory Capital Management Inc. boosted its stake in FB Financial by 2.7% during the second quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider’s stock valued at $685,000 after buying an additional 467 shares during the period. Rhumbline Advisers boosted its stake in FB Financial by 0.4% during the second quarter. Rhumbline Advisers now owns 111,351 shares of the financial services provider’s stock valued at $4,346,000 after buying an additional 482 shares during the period. Finally, ProShare Advisors LLC boosted its stake in FB Financial by 7.4% during the first quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock valued at $269,000 after buying an additional 494 shares during the period. Institutional investors own 65.40% of the company’s stock.

FB Financial Trading Down 1.9 %

FBK opened at $54.78 on Tuesday. The company has a market cap of $2.56 billion, a P/E ratio of 24.38 and a beta of 1.12. The business’s 50-day moving average price is $48.80 and its 200-day moving average price is $43.84. FB Financial Co. has a 12 month low of $32.09 and a 12 month high of $58.88.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The company had revenue of $169.13 million for the quarter, compared to the consensus estimate of $127.44 million. During the same quarter in the previous year, the business earned $0.71 EPS. Equities research analysts forecast that FB Financial Co. will post 3.38 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.24%. FB Financial’s dividend payout ratio is presently 29.69%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FBK. Hovde Group lowered FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a research note on Monday. Keefe, Bruyette & Woods raised their price target on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Two equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.60.

Insider Activity at FB Financial

In other FB Financial news, Director James W. Iv Cross sold 5,000 shares of FB Financial stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $58.22, for a total transaction of $291,100.00. Following the sale, the director now directly owns 54,078 shares of the company’s stock, valued at approximately $3,148,421.16. The trade was a 8.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder James W. Ayers acquired 1,500 shares of the business’s stock in a transaction on Friday, October 18th. The shares were purchased at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the completion of the transaction, the insider now owns 10,892,341 shares in the company, valued at approximately $540,042,266.78. This represents a 0.01 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 13,000 shares of company stock worth $658,460 in the last 90 days. Company insiders own 1.70% of the company’s stock.

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.