Janus Henderson Group PLC Has $20.02 Million Stock Holdings in FB Financial Corporation $FBK

Janus Henderson Group PLC lessened its position in FB Financial Corporation (NYSE:FBK) by 11.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 385,498 shares of the financial services provider’s stock after selling 51,371 shares during the period. Janus Henderson Group PLC owned approximately 0.75% of FB Financial worth $20,023,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of FBK. CIBC Private Wealth Group LLC bought a new position in FB Financial in the 4th quarter valued at about $27,000. Assetmark Inc. purchased a new stake in shares of FB Financial in the fourth quarter worth approximately $30,000. Global Retirement Partners LLC bought a new position in shares of FB Financial in the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its holdings in shares of FB Financial by 1,152.2% in the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 795 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of FB Financial during the first quarter valued at approximately $63,000. Institutional investors own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FBK shares. Cantor Fitzgerald set a $65.00 price objective on shares of FB Financial in a research note on Wednesday, April 15th. Weiss Ratings restated a “buy (b-)” rating on shares of FB Financial in a research note on Monday, July 20th. Benchmark upped their target price on FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Raymond James Financial upped their target price on FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a report on Wednesday, July 1st. Finally, Hovde Group decreased their price target on FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $64.67.

FB Financial Trading Up 1.2%

FB Financial stock opened at $61.10 on Tuesday. The firm’s 50 day simple moving average is $55.97 and its 200 day simple moving average is $55.41. The firm 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 (NYSE:FBK) last released its quarterly earnings results 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 firm had revenue of $175.94 million for the quarter, compared to analysts’ expectations of $177.45 million. Research analysts forecast that FB Financial Corporation will post 4.67 earnings per share for the current year.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be paid 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 of this dividend is Tuesday, August 11th. FB Financial’s dividend payout ratio (DPR) is 22.52%.

FB Financial declared that its Board of Directors has initiated a stock repurchase 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 reacquire up to 6.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are 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.