Insider Buying: FB Financial Co. (NYSE:FBK) Major Shareholder Acquires 1,000 Shares of Stock

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $57.15 per share, for a total transaction of $57,150.00. Following the acquisition, the insider now directly owns 10,909,841 shares of the company’s stock, valued at $623,497,413.15. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

FB Financial Trading Down 1.0 %

FBK opened at $56.51 on Thursday. The stock’s fifty day simple moving average is $48.22 and its 200 day simple moving average is $43.43. FB Financial Co. has a 1-year low of $32.09 and a 1-year high of $58.88. The stock has a market cap of $2.64 billion, a PE ratio of 25.29 and a beta of 1.12.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $169.13 million for the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.71 earnings per share. Equities analysts forecast that FB Financial Co. will post 3.38 earnings per share for the current year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, November 5th. FB Financial’s dividend payout ratio is presently 29.69%.

Analyst Ratings Changes

Several research analysts have weighed in on FBK shares. Keefe, Bruyette & Woods boosted their price target on FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 16th. Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. Hovde Group increased their price target on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.80.

Hedge Funds Weigh In On FB Financial

Large investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in FB Financial by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider’s stock valued at $691,000 after purchasing an additional 300 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of FB Financial by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider’s stock valued at $1,158,000 after acquiring an additional 398 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of FB Financial by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock valued at $1,011,000 after acquiring an additional 412 shares in the last quarter. Victory Capital Management Inc. raised its stake in FB Financial by 2.7% in the 2nd quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 467 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in FB Financial by 2.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 19,904 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 468 shares in the last quarter. 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.