FB Financial Co. (NYSE:FBK) Major Shareholder James W. Ayers Buys 2,000 Shares

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were purchased at an average price of $48.43 per share, for a total transaction of $96,860.00. Following the purchase, the insider now owns 10,898,341 shares in the company, valued at $527,806,654.63. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

FB Financial Price Performance

Shares of FBK traded down $0.86 during mid-day trading on Friday, reaching $47.79. 160,306 shares of the company’s stock were exchanged, compared to its average volume of 144,966. FB Financial Co. has a 52-week low of $28.58 and a 52-week high of $51.40. The business’s fifty day simple moving average is $46.76 and its 200-day simple moving average is $41.89. The stock has a market capitalization of $2.25 billion, a PE ratio of 20.44 and a beta of 1.13.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. The firm had revenue of $169.13 million for the quarter, compared to the consensus estimate of $127.44 million. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Equities research analysts predict that FB Financial Co. will post 3.25 earnings per share for the current year.

Hedge Funds Weigh In On FB Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP increased its position in shares of FB Financial by 13.1% in the 1st quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock worth $45,172,000 after purchasing an additional 139,395 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 worth $75,623,000 after buying an additional 106,553 shares in the last quarter. Millennium Management LLC grew its holdings in FB Financial by 259.9% during the second quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock worth $4,628,000 after acquiring an additional 85,620 shares during the period. Salzhauer Michael bought a new stake in shares of FB Financial during the 2nd quarter worth $2,596,000. Finally, Heartland Advisors Inc. raised its holdings in shares of FB Financial by 22.0% during the first quarter. Heartland Advisors Inc. now owns 318,622 shares of the financial services provider’s stock valued at $11,999,000 after acquiring an additional 57,355 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FBK shares. Piper Sandler downgraded FB Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $41.00 to $46.00 in a research report on Wednesday, July 17th. JPMorgan Chase & Co. decreased their price objective on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Thursday, June 27th. Keefe, Bruyette & Woods raised their price target on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. Stephens reiterated an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a research note on Tuesday, July 16th. Finally, Hovde Group raised their target price on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, FB Financial has a consensus rating of “Hold” and a consensus target price of $47.80.

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.