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 bought 2,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was acquired at an average price of $50.26 per share, for a total transaction of $100,520.00. Following the completion of the purchase, the insider now directly owns 10,915,841 shares in the company, valued at approximately $548,630,168.66. The trade was a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

FB Financial Trading Down 2.9 %

Shares of FBK traded down $1.45 during mid-day trading on Friday, reaching $48.82. The company’s stock had a trading volume of 179,712 shares, compared to its average volume of 154,085. FB Financial Co. has a 52 week low of $33.35 and a 52 week high of $58.88. The company’s fifty day moving average price is $53.99 and its two-hundred day moving average price is $48.24. The stock has a market cap of $2.28 billion, a PE ratio of 21.32 and a beta of 1.16.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $169.13 million during 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 business posted $0.71 earnings per share. 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. Shareholders of record on Tuesday, November 5th were given a $0.17 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.68 annualized dividend and a yield of 1.39%. FB Financial’s payout ratio is currently 29.69%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Hovde Group cut shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a research report 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 upped 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.20.

Institutional Trading of FB Financial

A number of institutional investors have recently made changes to their positions in FBK. Dimensional Fund Advisors LP boosted its position in FB Financial by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock valued at $75,623,000 after buying an additional 106,553 shares during the period. Millennium Management LLC raised its stake in shares of FB Financial by 259.9% during the second quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock valued at $4,628,000 after acquiring an additional 85,620 shares during the last quarter. Salzhauer Michael purchased a new stake in shares of FB Financial during the second quarter worth about $2,596,000. Wasatch Advisors LP grew 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 worth $57,529,000 after purchasing an additional 55,071 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. purchased a new position in FB Financial during the 3rd quarter valued at about $1,935,000. 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.