First National Bank of Omaha Buys Shares of 12,385 FB Financial Corporation $FBK

First National Bank of Omaha bought a new position in FB Financial Corporation (NYSE:FBK) in the 2nd quarter, HoldingsChannel reports. The fund bought 12,385 shares of the financial services provider’s stock, valued at approximately $686,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of FB Financial during the second quarter worth approximately $348,592,000. Northwestern Mutual Wealth Management Co. boosted its position in FB Financial by 1,690,485.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock worth $174,519,000 after acquiring an additional 3,127,398 shares during the period. Wellington Management Group LLP boosted its position in FB Financial by 171.3% during the 4th quarter. Wellington Management Group LLP now owns 1,729,622 shares of the financial services provider’s stock worth $96,513,000 after acquiring an additional 1,092,126 shares during the period. North Reef Capital Management LP bought a new position in shares of FB Financial in the fourth quarter worth $49,812,000. Finally, Loomis Sayles & Co. L P grew its stake in shares of FB Financial by 220.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 974,715 shares of the financial services provider’s stock worth $54,389,000 after purchasing an additional 670,691 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analysts Set New Price Targets

FBK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating on shares of FB Financial in a research note on Tuesday, July 14th. Weiss Ratings upgraded shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Raymond James Financial raised their target price 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. Hovde Group lowered their target price on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Finally, Benchmark boosted their price target on shares of FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $64.67.

FB Financial Stock Performance

Shares of FBK stock opened at $59.30 on Thursday. FB Financial Corporation has a 1 year low of $49.24 and a 1 year high of $62.65. The business’s fifty day moving average is $57.95 and its 200-day moving average is $55.61. The stock has a market cap of $2.96 billion, a PE ratio of 15.90 and a beta of 0.94.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Monday, July 13th. The financial services provider reported $1.14 earnings per share for the quarter, meeting the consensus estimate of $1.14. FB Financial had a return on equity of 12.08% and a net margin of 19.00%.The business had revenue of $175.94 million during the quarter, compared to analyst estimates of $177.45 million. Equities research analysts predict that FB Financial Corporation will post 4.67 earnings per share for the current year.

FB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 11th. FB Financial’s dividend payout ratio is presently 22.52%.

FB Financial declared that its Board of Directors has initiated a stock buyback program on Monday, April 27th that allows the company to repurchase $175.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 6.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors 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.