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 stock in a transaction on Monday, February 3rd. The stock was purchased at an average cost of $52.07 per share, for a total transaction of $104,140.00. Following the acquisition, the insider now directly owns 10,921,841 shares of the company’s stock, valued at $568,700,260.87. The trade was a 0.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

FB Financial Stock Performance

Shares of FBK traded up $0.48 during trading hours on Wednesday, hitting $53.50. The stock had a trading volume of 132,574 shares, compared to its average volume of 150,125. The company’s fifty day simple moving average is $53.09 and its 200 day simple moving average is $49.87. FB Financial Co. has a 12-month low of $33.35 and a 12-month high of $58.88. The firm has a market cap of $2.50 billion, a P/E ratio of 21.66 and a beta of 1.15.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts predict that FB Financial Co. will post 3.61 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be issued a $0.19 dividend. This is an increase from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, February 11th. FB Financial’s dividend payout ratio is currently 27.53%.

Institutional Investors Weigh In On FB Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Financial Partners Inc grew its holdings in FB Financial by 412.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 5,253 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 4,227 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of FB Financial in the 4th quarter valued at about $283,000. Principal Financial Group Inc. lifted its position in shares of FB Financial by 3.7% during the fourth quarter. Principal Financial Group Inc. now owns 186,201 shares of the financial services provider’s stock worth $9,591,000 after purchasing an additional 6,612 shares during the last quarter. Rhumbline Advisers grew its stake in FB Financial by 1.5% in the fourth quarter. Rhumbline Advisers now owns 110,352 shares of the financial services provider’s stock worth $5,684,000 after purchasing an additional 1,584 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in FB Financial by 1.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 234,264 shares of the financial services provider’s stock valued at $12,067,000 after buying an additional 4,435 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FBK shares. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Hovde Group downgraded 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 note on Monday, November 18th. Finally, Keefe, Bruyette & Woods boosted their price target on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.20.

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.