FB Financial Co. (NYSE:FBK) Major Shareholder Purchases $100,580.00 in Stock

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were acquired at an average cost of $50.29 per share, for a total transaction of $100,580.00. Following the completion of the purchase, the insider now directly owns 10,904,341 shares of the company’s stock, valued at approximately $548,379,308.89. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

FB Financial Trading Up 0.9 %

FB Financial stock opened at $50.41 on Thursday. The firm has a market cap of $2.37 billion, a P/E ratio of 21.18 and a beta of 1.13. FB Financial Co. has a 1-year low of $28.79 and a 1-year high of $51.63. The firm has a 50-day moving average of $47.23 and a 200-day moving average of $42.38.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The business had revenue of $169.13 million during the quarter, compared to analysts’ expectations of $127.44 million. During the same quarter last year, the business posted $0.71 EPS. Research analysts forecast that FB Financial Co. will post 3.34 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, November 5th. FB Financial’s dividend payout ratio (DPR) is currently 28.57%.

Analysts Set New Price Targets

Several equities analysts recently commented on FBK shares. StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Piper Sandler downgraded FB Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their target price on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. Hovde Group raised their price target on FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Stephens reiterated an “overweight” rating and issued a $45.00 price objective on shares of FB Financial in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $47.80.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FBK. Dimensional Fund Advisors LP boosted its stake in shares of 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 purchasing an additional 106,553 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in FB Financial by 7.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock valued at $10,786,000 after acquiring an additional 15,739 shares in the last quarter. Salzhauer Michael purchased a new position in shares of FB Financial during the 2nd quarter worth approximately $2,596,000. Quest Partners LLC bought a new position in shares of FB Financial in the 2nd quarter worth approximately $450,000. Finally, SG Americas Securities LLC purchased a new position in shares of FB Financial in the 3rd quarter valued at approximately $667,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

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.