First National Bank of Omaha Makes New $686,000 Investment in FB Financial Corporation $FBK

First National Bank of Omaha bought a new stake in FB Financial Corporation (NYSE:FBK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,385 shares of the financial services provider’s stock, valued at approximately $686,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FBK. BlackRock Inc. acquired a new stake in shares of FB Financial during the second quarter worth approximately $348,592,000. Deutsche Bank AG acquired a new stake in FB Financial in the second quarter valued at $2,503,000. Simplicity Wealth LLC acquired a new stake in FB Financial in the second quarter valued at $615,000. Global Retirement Partners LLC bought a new position in FB Financial during the 2nd quarter valued at $40,000. Finally, Bank of New York Mellon Corp acquired a new position in FB Financial during the 2nd quarter worth $17,613,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FBK shares. Weiss Ratings upgraded shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Hovde Group lowered their price objective on FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Raymond James Financial upped their price objective on FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of FB Financial in a report on Tuesday, July 14th. Finally, Benchmark lifted their target price on FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $64.67.

FB Financial Stock Performance

NYSE FBK opened at $59.30 on Thursday. FB Financial Corporation has a one year low of $49.24 and a one year high of $62.65. The company has a 50-day simple moving average of $57.95 and a 200-day simple moving average of $55.61. The firm has a market capitalization of $2.96 billion, a PE ratio of 15.90 and a beta of 0.94.

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

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

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 11th. FB Financial’s dividend 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.