Northern Trust Corp Trims Stock Holdings in FB Financial Corporation $FBK

Northern Trust Corp reduced its stake in FB Financial Corporation (NYSE:FBK) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 414,916 shares of the financial services provider’s stock after selling 9,966 shares during the quarter. Northern Trust Corp owned about 0.90% of FB Financial worth $19,236,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of FB Financial by 6,237.7% in the first quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider’s stock valued at $2,962,000 after acquiring an additional 62,876 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of FB Financial by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 192,496 shares of the financial services provider’s stock valued at $8,924,000 after acquiring an additional 3,779 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of FB Financial by 1.3% in the fourth quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider’s stock valued at $14,136,000 after acquiring an additional 3,492 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of FB Financial by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,219 shares of the financial services provider’s stock valued at $1,041,000 after acquiring an additional 790 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of FB Financial by 17.8% in the fourth quarter. Millennium Management LLC now owns 316,771 shares of the financial services provider’s stock valued at $16,317,000 after acquiring an additional 47,761 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on FBK. Keefe, Bruyette & Woods raised FB Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $52.00 to $58.00 in a research note on Friday, July 11th. Wall Street Zen lowered FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $58.25.

FB Financial Trading Down 0.4%

Shares of NYSE:FBK opened at $53.69 on Tuesday. The stock’s 50-day moving average price is $48.92 and its two-hundred day moving average price is $46.29. FB Financial Corporation has a 12-month low of $38.83 and a 12-month high of $58.88. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 27.82 and a beta of 0.93.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, July 14th. The financial services provider reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The firm had revenue of $76.86 million during the quarter, compared to analysts’ expectations of $136.32 million. FB Financial had a return on equity of 10.15% and a net margin of 11.46%. As a group, research analysts forecast that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 12th. FB Financial’s payout ratio is currently 39.38%.

FB Financial 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.