Insider Buying: FB Financial Co. (NYSE:FBK) Major Shareholder Purchases 2,000 Shares of Stock

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $51.86 per share, for a total transaction of $103,720.00. Following the completion of the acquisition, the insider now owns 10,911,841 shares of the company’s stock, valued at approximately $565,888,074.26. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

FB Financial Price Performance

Shares of FBK opened at $52.35 on Wednesday. The business’s 50 day simple moving average is $53.42 and its 200-day simple moving average is $47.02. FB Financial Co. has a 1 year low of $33.35 and a 1 year high of $58.88. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 22.86 and a beta of 1.15.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The business had revenue of $169.13 million during the quarter, compared to analyst estimates of $127.44 million. During the same quarter last year, the business earned $0.71 earnings per share. On average, sell-side analysts expect that FB Financial Co. will post 3.38 earnings per share for the current year.

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.30%. FB Financial’s dividend payout ratio (DPR) is presently 29.69%.

Wall Street Analysts Forecast Growth

FBK has been the topic of several recent analyst reports. Hovde Group downgraded FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a research note on Monday, November 18th. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.20.

Hedge Funds Weigh In On FB Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new stake in FB Financial in the third quarter worth $47,000. nVerses Capital LLC bought a new stake in shares of FB Financial in the 3rd quarter worth about $84,000. Point72 DIFC Ltd purchased a new position in shares of FB Financial during the 3rd quarter worth about $110,000. Point72 Asia Singapore Pte. Ltd. bought a new position in FB Financial during the 3rd quarter valued at about $124,000. Finally, Raymond James Trust N.A. purchased a new stake in FB Financial in the 3rd quarter worth about $201,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Company Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.