Public Employees Retirement System of Ohio Takes Position in FB Financial Corporation $FBK

Key Points

• Public Employees Retirement System of Ohio purchased 63,892 FB Financial shares worth approximately $3.54 million, while institutional investors collectively own 65.4% of the company.
• Analysts remain positive on FB Financial, with the stock receiving an average “Buy” rating and a consensus price target of $64.67.
• FB Financial reported quarterly EPS of $1.14, matching estimates, and maintains a quarterly dividend of $0.21 per share, equivalent to a 1.5% yield.

Public Employees Retirement System of Ohio purchased a new position in shares of FB Financial Corporation (NYSE:FBK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 63,892 shares of the financial services provider's stock, valued at approximately $3,536,000. Public Employees Retirement System of Ohio owned approximately 0.13% of FB Financial at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of FB Financial during the second quarter worth about $348,592,000. Northwestern Mutual Wealth Management Co. lifted its stake in FB Financial by 1,690,485.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider's stock valued at $174,519,000 after buying an additional 3,127,398 shares during the last quarter. Wellington Management Group LLP lifted its stake in FB Financial by 171.3% in the fourth quarter. Wellington Management Group LLP now owns 1,729,622 shares of the financial services provider's stock valued at $96,513,000 after buying an additional 1,092,126 shares during the last quarter. North Reef Capital Management LP acquired a new stake in shares of FB Financial in the fourth quarter valued at approximately $49,812,000. Finally, Bank of America Corp DE acquired a new stake in shares of FB Financial in the second quarter valued at approximately $39,460,000. Institutional investors and hedge funds own 65.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FBK shares. Weiss Ratings raised shares of FB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of FB Financial in a research report on Tuesday, July 14th. Raymond James Financial lifted their price objective on shares of FB Financial from $62.00 to $63.00 and gave the company a "strong-buy" rating in a research note on Wednesday, July 1st. Finally, Benchmark upped their target price on shares of FB Financial from $64.00 to $67.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $64.67.

FB Financial Trading Up 1.2%

NYSE:FBK opened at $56.92 on Friday. FB Financial Corporation has a 12-month low of $49.24 and a 12-month high of $62.65. The stock's 50 day simple moving average is $58.65 and its 200-day simple moving average is $55.41. The firm has a market cap of $2.84 billion, a P/E ratio of 15.26 and a beta of 0.92.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings results on Monday, July 13th. The financial services provider reported $1.14 earnings per share for the quarter, hitting the consensus estimate of $1.14. The firm had revenue of $175.94 million during the quarter, compared to the consensus estimate of $177.45 million. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. Research analysts forecast that FB Financial Corporation will post 4.67 EPS for the current fiscal year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. FB Financial's payout ratio is presently 22.52%.

FB Financial 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.

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