Insider Buying: FB Financial Co. (NYSE:FBK) Major Shareholder Buys 1,500 Shares of Stock

FB Financial Co. (NYSE:FBK - Get Free Report) major shareholder James W. Ayers purchased 1,500 shares of the business's stock in a transaction dated Friday, October 18th. The shares were purchased at an average price of $49.58 per share, with a total value of $74,370.00. Following the acquisition, the insider now directly owns 10,892,341 shares in the company, valued at approximately $540,042,266.78. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

FB Financial Stock Up 1.0 %

FBK stock traded up $0.49 during midday trading on Tuesday, hitting $48.41. The company's stock had a trading volume of 88,278 shares, compared to its average volume of 144,840. FB Financial Co. has a 52-week low of $27.75 and a 52-week high of $51.40. The firm has a market capitalization of $2.27 billion, a P/E ratio of 20.34 and a beta of 1.13. The firm has a 50-day simple moving average of $46.54 and a 200-day simple moving average of $41.76.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. The company had revenue of $169.13 million during the quarter, compared to analysts' expectations of $127.44 million. During the same quarter last year, the company posted $0.71 EPS. On average, sell-side analysts expect that FB Financial Co. will post 3.25 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.40%. FB Financial's dividend payout ratio (DPR) is currently 28.57%.

Institutional Investors Weigh In On FB Financial

Several institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of 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 worth $10,786,000 after purchasing an additional 15,739 shares during the last quarter. Raymond James & Associates raised its stake in FB Financial by 5.0% during the 3rd quarter. Raymond James & Associates now owns 129,545 shares of the financial services provider's stock worth $6,080,000 after acquiring an additional 6,183 shares in the last quarter. nVerses Capital LLC acquired a new stake in FB Financial during the 3rd quarter worth $84,000. Creative Planning raised its stake in FB Financial by 4.6% during the 3rd quarter. Creative Planning now owns 26,308 shares of the financial services provider's stock worth $1,235,000 after acquiring an additional 1,149 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in FB Financial during the 3rd quarter worth $667,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FBK shares. JPMorgan Chase & Co. cut their price target on shares of 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 increased their price objective on shares of FB Financial from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 16th. Hovde Group increased their price objective on shares of FB Financial from $52.50 to $56.00 and gave the stock an "outperform" rating in a research report on Monday. Stephens reaffirmed an "overweight" rating and set a $45.00 price objective on shares of FB Financial in a research report on Tuesday, July 16th. Finally, Piper Sandler cut shares of FB Financial from an "overweight" rating to a "neutral" rating and increased their price objective for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $47.80.

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.

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