Insider Buying: FB Financial Co. (NYSE:FBK) Major Shareholder Acquires $105,120.00 in Stock

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was purchased at an average cost of $52.56 per share, with a total value of $105,120.00. Following the completion of the purchase, the insider now directly owns 10,919,841 shares of the company’s stock, valued at approximately $573,946,842.96. This represents a 0.02 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Price Performance

FBK stock opened at $52.89 on Friday. The business’s 50-day moving average is $52.99 and its two-hundred day moving average is $49.92. The firm has a market capitalization of $2.47 billion, a P/E ratio of 21.41 and a beta of 1.15. FB Financial Co. has a 1 year low of $33.35 and a 1 year high of $58.88.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. On average, analysts expect that FB Financial Co. will post 3.61 EPS for the current year.

FB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.19 per share. This is a boost from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Tuesday, February 11th. FB Financial’s payout ratio is 27.53%.

Analyst Ratings Changes

A number of equities analysts recently commented on FBK shares. Keefe, Bruyette & Woods raised their target price on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Hovde Group lowered 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 note on Monday, November 18th. Finally, StockNews.com upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, FB Financial has a consensus rating of “Hold” and an average price target of $50.20.

Hedge Funds Weigh In On FB Financial

A number of institutional investors and hedge funds have recently modified their holdings of FBK. Renaissance Technologies LLC acquired a new position in shares of FB Financial during the 2nd quarter worth about $217,000. Marshall Wace LLP purchased a new stake in FB Financial during the second quarter worth approximately $630,000. AQR Capital Management LLC boosted its holdings in FB Financial by 30.5% in the second quarter. AQR Capital Management LLC now owns 40,704 shares of the financial services provider’s stock valued at $1,589,000 after purchasing an additional 9,512 shares in the last quarter. Millennium Management LLC increased its stake in FB Financial by 259.9% in 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. Finally, The Manufacturers Life Insurance Company raised its holdings in FB Financial by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 17,967 shares of the financial services provider’s stock worth $701,000 after purchasing an additional 743 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

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.