FB Financial Corporation $FBK Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lifted its holdings in shares of FB Financial Corporation (NYSE:FBK) by 1,690,485.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,127,583 shares of the financial services provider’s stock after buying an additional 3,127,398 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.06% of FB Financial worth $174,519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. raised its position in shares of FB Financial by 155.9% during the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 293 shares in the last quarter. Assetmark Inc. acquired a new stake in shares of FB Financial during the 4th quarter worth about $30,000. Bessemer Group Inc. raised its position in shares of FB Financial by 294.7% during the 3rd quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 557 shares in the last quarter. First Horizon Corp acquired a new stake in shares of FB Financial during the 3rd quarter worth about $45,000. Finally, Center for Financial Planning Inc. acquired a new stake in shares of FB Financial during the 3rd quarter worth about $45,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analysts Set New Price Targets

FBK has been the topic of several research analyst reports. Weiss Ratings raised 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 target price on FB Financial in a research report on Wednesday, April 15th. Raymond James Financial raised FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a research report on Tuesday, April 7th. Hovde Group cut their target price on FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, April 27th. Finally, Keefe, Bruyette & Woods cut their target price on FB Financial from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $64.00.

FB Financial Stock Down 0.9%

FBK opened at $51.29 on Friday. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 19.28 and a beta of 0.97. FB Financial Corporation has a 52 week low of $42.29 and a 52 week high of $62.37. The business’s 50 day moving average is $52.97 and its two-hundred day moving average is $55.61.

FB Financial (NYSE:FBK) last released its quarterly 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 firm 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 company’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. Equities analysts expect that FB Financial Corporation will post 4.71 EPS for the current fiscal year.

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.84 annualized dividend and a yield of 1.6%. FB Financial’s payout ratio is 31.58%.

FB Financial declared that its board has approved a stock repurchase program on Monday, April 27th that permits the company to buyback $175.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 6.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

About FB Financial

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.