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

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was bought at an average cost of $50.29 per share, with a total value of $100,580.00. Following the completion of the transaction, the insider now owns 10,904,341 shares in the company, valued at approximately $548,379,308.89. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

FB Financial Stock Performance

NYSE:FBK opened at $48.94 on Friday. The firm has a market cap of $2.30 billion, a P/E ratio of 21.37 and a beta of 1.13. FB Financial Co. has a fifty-two week low of $29.55 and a fifty-two week high of $51.63. The firm has a 50-day simple moving average of $47.33 and a two-hundred day simple moving average of $42.53.

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, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $169.13 million during 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 period last year, the business earned $0.71 EPS. On average, equities research analysts predict that FB Financial Co. will post 3.34 EPS for the current year.

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.39%. FB Financial’s dividend payout ratio is currently 29.69%.

Institutional Trading of FB Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of FB Financial by 5.8% during the second 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 during the last quarter. Millennium Management LLC raised its holdings in shares of FB Financial by 259.9% during the second quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock valued at $4,628,000 after purchasing an additional 85,620 shares during the last quarter. Salzhauer Michael purchased a new position in shares of FB Financial during the second quarter valued at approximately $2,596,000. 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 purchasing an additional 57,355 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of FB Financial by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock valued at $97,816,000 after purchasing an additional 49,313 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on FBK. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their price target on shares of FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 16th. Hovde Group increased their price target on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. 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, StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, 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.