Janus Henderson Group PLC reduced its stake in FB Financial Corporation (NYSE:FBK – Free Report) by 11.8% during the first quarter, HoldingsChannel.com reports. The firm owned 385,498 shares of the financial services provider’s stock after selling 51,371 shares during the quarter. Janus Henderson Group PLC’s holdings in FB Financial were worth $20,023,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in FBK. CIBC Private Wealth Group LLC bought a new stake in FB Financial in the fourth quarter worth $27,000. Assetmark Inc. purchased a new stake in shares of FB Financial in the fourth quarter worth $30,000. Global Retirement Partners LLC bought a new position in shares of FB Financial during the fourth quarter valued at $37,000. EverSource Wealth Advisors LLC increased its holdings in shares of FB Financial by 1,152.2% during the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 795 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of FB Financial in the 1st quarter worth about $63,000. 65.40% of the stock is owned by institutional investors.
FB Financial Trading Up 1.2%
FBK opened at $61.10 on Tuesday. The firm’s 50 day simple moving average is $55.97 and its two-hundred day simple moving average is $55.41. The company has a market capitalization of $3.15 billion, a PE ratio of 16.38 and a beta of 0.94. FB Financial Corporation has a 1-year low of $46.95 and a 1-year high of $62.37.
FB Financial announced that its Board of Directors has initiated a stock buyback program on Monday, April 27th that permits the company to repurchase $175.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 6.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
FB Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 11th. FB Financial’s payout ratio is 22.52%.
Analyst Ratings Changes
Several research analysts have recently issued reports on FBK shares. Benchmark upped their target price on shares of FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of FB Financial in a research report on Monday, July 20th. Raymond James Financial boosted their price objective on shares of FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 1st. Cantor Fitzgerald set a $65.00 price objective on FB Financial in a research report on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of FB Financial in a research note on Tuesday, July 14th. One equities 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 MarketBeat, FB Financial presently has an average rating of “Buy” and a consensus price target of $64.67.
Get Our Latest Stock Report on FB Financial
FB Financial Company 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.
Read More
- Five stocks we like better than FB Financial
- SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control
- Why Rare Earth Processing Could Be the Real 2027 Opportunity
- The S&P 493 Are Staging a Comeback—This Value ETF Offers Broad Exposure
- TSMC Insiders Are Buying the Pullback—But Is the Signal as Bullish as It Looks?
Want to see what other hedge funds are holding FBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FB Financial Corporation (NYSE:FBK – Free Report).
Receive News & Ratings for FB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FB Financial and related companies with MarketBeat.com's FREE daily email newsletter.
