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

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction dated Monday, January 6th. The stock was acquired at an average cost of $51.40 per share, for a total transaction of $102,800.00. Following the completion of the transaction, the insider now owns 10,913,841 shares of the company’s stock, valued at $560,971,427.40. The trade was a 0.02 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

FB Financial Price Performance

Shares of FBK stock opened at $48.82 on Friday. FB Financial Co. has a one year low of $33.35 and a one year high of $58.88. The stock has a fifty day moving average price of $53.99 and a 200 day moving average price of $48.33. The stock has a market cap of $2.28 billion, a P/E ratio of 21.32 and a beta of 1.16.

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, topping analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same period last year, the firm earned $0.71 EPS. Equities research analysts anticipate that FB Financial Co. will post 3.38 EPS for the current year.

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid a $0.17 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.68 annualized dividend and a dividend yield of 1.39%. FB Financial’s dividend payout ratio is currently 29.69%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FBK. Hovde Group downgraded FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target on the stock. in a research report on Monday, November 18th. 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 research report on Wednesday, December 4th. Finally, StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Two equities 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 stock. Based on data from MarketBeat.com, FB Financial currently has an average rating of “Hold” and an average price target of $50.20.

Hedge Funds Weigh In On FB Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of FB Financial by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after purchasing an additional 106,553 shares during the last quarter. Millennium Management LLC grew its stake in FB Financial by 259.9% during the second quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock worth $4,628,000 after buying an additional 85,620 shares during the last quarter. Salzhauer Michael acquired a new stake in shares of FB Financial during the second quarter worth approximately $2,596,000. Wasatch Advisors LP raised its stake in shares of FB Financial by 4.7% in the third quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider’s stock valued at $57,529,000 after acquiring an additional 55,071 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. acquired a new position in shares of FB Financial in the 3rd quarter worth approximately $1,935,000. Institutional investors own 65.40% of the company’s stock.

About FB Financial

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.