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 business’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $52.56 per share, for a total transaction of $105,120.00. Following the completion of the acquisition, the insider now owns 10,919,841 shares of the company’s stock, valued at $573,946,842.96. The trade was a 0.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

FB Financial Trading Up 1.3 %

FB Financial stock opened at $54.23 on Friday. The business’s 50 day simple moving average is $53.03 and its 200 day simple moving average is $49.89. FB Financial Co. has a 12 month low of $33.35 and a 12 month high of $58.88. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 21.96 and a beta of 1.15.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. As a group, equities research analysts forecast that FB Financial Co. will post 3.61 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, February 11th. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s dividend payout ratio (DPR) is currently 30.77%.

Institutional Trading of FB Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new position in FB Financial in the 2nd quarter valued at approximately $217,000. Marshall Wace LLP bought a new position in shares of FB Financial in the second quarter worth $630,000. AQR Capital Management LLC grew its position in shares of FB Financial by 30.5% in the second quarter. AQR Capital Management LLC now owns 40,704 shares of the financial services provider’s stock valued at $1,589,000 after purchasing an additional 9,512 shares in the last quarter. Millennium Management LLC raised its stake in shares of FB Financial by 259.9% during the 2nd quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock valued at $4,628,000 after purchasing an additional 85,620 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in FB Financial by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,967 shares of the financial services provider’s stock worth $701,000 after purchasing an additional 743 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

Analysts Set New Price Targets

FBK has been the topic of a number of research analyst reports. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their price objective on 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, Hovde Group lowered FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price for the company. in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.20.

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.