Insider Buying: FB Financial Co. (NYSE:FBK) Major Shareholder Acquires $103,720.00 in Stock

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $51.86 per share, with a total value of $103,720.00. Following the purchase, the insider now directly owns 10,911,841 shares of the company’s stock, valued at $565,888,074.26. This represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

FB Financial Price Performance

FB Financial stock traded up $0.34 during midday trading on Monday, reaching $51.82. The company’s stock had a trading volume of 108,498 shares, compared to its average volume of 149,568. FB Financial Co. has a 52-week low of $33.35 and a 52-week high of $58.88. The stock has a market capitalization of $2.42 billion, a P/E ratio of 22.63 and a beta of 1.15. The stock’s 50-day simple moving average is $53.34 and its 200-day simple moving average is $46.91.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The business 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 quarter in the prior year, the business posted $0.71 EPS. As a group, equities research analysts expect that FB Financial Co. will post 3.38 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.68 annualized dividend and a yield of 1.31%. FB Financial’s payout ratio is presently 29.69%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. 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 report on Monday, November 18th. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.20.

Institutional Inflows and Outflows

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

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.