Public Employees Retirement System of Ohio Has $1.08 Million Stock Position in FB Financial Corporation $FBK

Key Points

• The Public Employees Retirement System of Ohio increased its stake in FB Financial Corporation by 42.9%, owning approximately $1.08 million worth of shares by the end of the second quarter.
• Analysts have mixed opinions on FB Financial, with a recent downgrade to "sell" from Wall Street Zen, while Keefe, Bruyette & Woods upgraded the stock to "outperform" with a price target increase to $58.00.
• FB Financial recently announced a quarterly dividend of $0.19, leading to an annualized yield of 1.3%, and the company reported earnings per share of $0.88, slightly missing analyst expectations.

Public Employees Retirement System of Ohio grew its stake in FB Financial Corporation (NYSE:FBK - Free Report) by 42.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,886 shares of the financial services provider's stock after purchasing an additional 7,167 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.05% of FB Financial worth $1,082,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in shares of FB Financial in the 1st quarter valued at $33,000. GAMMA Investing LLC lifted its stake in shares of FB Financial by 36.7% in the 1st quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 370 shares during the period. CWM LLC lifted its stake in shares of FB Financial by 58.2% in the 1st quarter. CWM LLC now owns 1,660 shares of the financial services provider's stock valued at $77,000 after purchasing an additional 611 shares during the period. Nisa Investment Advisors LLC increased its position in shares of FB Financial by 7.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider's stock valued at $202,000 after buying an additional 290 shares in the last quarter. Finally, Blue Trust Inc. bought a new stake in shares of FB Financial in the 1st quarter valued at $211,000. Institutional investors and hedge funds own 65.40% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on FBK. Wall Street Zen cut shares of FB Financial from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $52.00 to $58.00 in a research report on Friday, July 11th. Cantor Fitzgerald began coverage on shares of FB Financial in a research report on Wednesday, September 10th. They issued an "overweight" rating and a $61.00 price objective for the company. Finally, Weiss Ratings restated a "hold (c)" rating on shares of FB Financial in a research report on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $58.80.

FB Financial Trading Up 2.7%

FBK stock opened at $58.35 on Friday. The stock has a 50-day moving average price of $52.26 and a two-hundred day moving average price of $47.28. The stock has a market cap of $3.14 billion, a PE ratio of 30.23 and a beta of 0.91. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings data on Monday, July 14th. The financial services provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). The company had revenue of $76.86 million during the quarter, compared to the consensus estimate of $136.32 million. FB Financial had a net margin of 11.46% and a return on equity of 10.15%. On average, analysts forecast that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a $0.19 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.3%. FB Financial's dividend payout ratio (DPR) is presently 39.38%.

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.

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