Insider Buying: FB Financial Co. (NYSE:FBK) Major Shareholder Purchases 2,000 Shares of Stock

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction dated Friday, January 10th. The shares were purchased at an average price of $48.46 per share, for a total transaction of $96,920.00. Following the completion of the purchase, the insider now directly owns 10,917,841 shares in the company, valued at $529,078,574.86. The trade was a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

FB Financial Trading Down 2.9 %

NYSE:FBK opened at $48.82 on Friday. The stock has a 50 day simple moving average of $53.99 and a 200 day simple moving average of $48.41. The stock has a market cap of $2.28 billion, a P/E ratio of 21.32 and a beta of 1.16. FB Financial Co. has a 1-year low of $33.35 and a 1-year high of $58.88.

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. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The company had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. During the same quarter last year, the firm earned $0.71 earnings per share. As a group, sell-side analysts forecast that FB Financial Co. will post 3.38 EPS for the current year.

FB Financial Announces Dividend

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

Institutional Investors Weigh In On FB Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased its stake in FB Financial by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 111,351 shares of the financial services provider’s stock worth $4,346,000 after acquiring an additional 482 shares during the period. Victory Capital Management Inc. increased its position in shares of FB Financial by 2.7% in the second quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 467 shares during the period. Quest Partners LLC acquired a new position in FB Financial in the second quarter valued at about $450,000. American Century Companies Inc. lifted its position in FB Financial by 1.2% during the second quarter. American Century Companies Inc. now owns 180,129 shares of the financial services provider’s stock worth $7,030,000 after purchasing an additional 2,110 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in FB Financial by 2.2% during the second quarter. Envestnet Asset Management Inc. now owns 204,983 shares of the financial services provider’s stock worth $8,001,000 after buying an additional 4,364 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FBK shares. Keefe, Bruyette & Woods boosted their price target on FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com lowered FB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Hovde Group cut shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a research report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, FB Financial presently has an average rating of “Hold” and an average target price of $50.20.

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.