Northwestern Mutual Wealth Management Co. Increases Stock Holdings in FB Financial Corporation $FBK

Northwestern Mutual Wealth Management Co. boosted its position in shares of FB Financial Corporation (NYSE:FBK) by 1,690,485.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,127,583 shares of the financial services provider’s stock after acquiring an additional 3,127,398 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 5.85% of FB Financial worth $174,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in FB Financial by 155.9% during the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 293 shares during the period. Assetmark Inc. purchased a new position in FB Financial during the 4th quarter valued at about $30,000. EverSource Wealth Advisors LLC boosted its holdings in FB Financial by 1,152.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 795 shares during the period. Bessemer Group Inc. boosted its holdings in FB Financial by 294.7% during the 3rd quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 557 shares during the period. Finally, First Horizon Corp purchased a new position in FB Financial during the 3rd quarter valued at about $45,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Stock Performance

Shares of FBK opened at $51.29 on Friday. The stock has a 50-day simple moving average of $52.97 and a 200-day simple moving average of $55.61. The stock has a market capitalization of $2.64 billion, a PE ratio of 19.28 and a beta of 0.97. FB Financial Corporation has a 1 year low of $42.29 and a 1 year high of $62.37.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Monday, April 13th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.01). The company had revenue of $172.71 million during the quarter, compared to analysts’ expectations of $175.45 million. FB Financial had a net margin of 14.26% and a return on equity of 11.64%. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. Analysts predict that FB Financial Corporation will post 4.71 EPS for the current year.

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, May 12th. FB Financial’s dividend payout ratio (DPR) is presently 31.58%.

FB Financial declared that its Board of Directors has initiated a stock repurchase plan on Monday, April 27th that authorizes the company to repurchase $175.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 6.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FBK shares. Keefe, Bruyette & Woods lowered their target price on FB Financial from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, April 15th. Cantor Fitzgerald set a $65.00 target price on FB Financial in a report on Wednesday, April 15th. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price for the company in a report on Thursday, April 2nd. Weiss Ratings upgraded FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 22nd. Finally, Hovde Group lowered their target price on FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, FB Financial presently has a consensus rating of “Buy” and a consensus target price of $64.00.

FB Financial Company 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.