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

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction on Monday, October 28th. The shares were purchased at an average cost of $50.29 per share, with a total value of $100,580.00. Following the completion of the acquisition, the insider now owns 10,904,341 shares of the company’s stock, valued at $548,379,308.89. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

FB Financial Stock Up 0.9 %

Shares of NYSE FBK opened at $50.41 on Thursday. The company 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 52 week low of $28.79 and a 52 week high of $51.63. The business has a 50-day simple moving average of $47.23 and a two-hundred day simple moving average of $42.38.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $169.13 million for 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 quarter in the prior year, the firm posted $0.71 EPS. Equities research analysts anticipate that FB Financial Co. will post 3.34 EPS for the current year.

FB Financial Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in FB Financial by 5.8% in 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 in the last quarter. Millennium Management LLC raised its position in shares of FB Financial by 259.9% during the 2nd quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock valued at $4,628,000 after buying an additional 85,620 shares in the last quarter. Salzhauer Michael bought a new stake in shares of FB Financial during the 2nd quarter worth $2,596,000. Heartland Advisors Inc. grew its position in FB Financial by 22.0% in the first quarter. Heartland Advisors Inc. now owns 318,622 shares of the financial services provider’s stock worth $11,999,000 after acquiring an additional 57,355 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in FB Financial by 2.1% in 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 acquiring an additional 49,313 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FBK shares. Hovde Group upped their price target on FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Stephens reaffirmed an “overweight” rating and set a $45.00 price objective on shares of FB Financial in a report on Tuesday, July 16th. Keefe, Bruyette & Woods lifted their target price 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. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $41.00 to $46.00 in a research report on Wednesday, July 17th. Finally, StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average 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.