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

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was bought at an average cost of $51.83 per share, with a total value of $103,660.00. Following the acquisition, the insider now owns 10,927,841 shares of the company’s stock, valued at $566,389,999.03. This represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

FB Financial Stock Down 0.4 %

NYSE:FBK opened at $52.06 on Friday. FB Financial Co. has a 12-month low of $33.35 and a 12-month high of $58.88. The stock’s fifty day simple moving average is $52.50 and its 200-day simple moving average is $50.18. The firm has a market capitalization of $2.43 billion, a P/E ratio of 21.08 and a beta of 1.15.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. As a group, equities research analysts expect that FB Financial Co. will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, February 11th. This represents a $0.76 dividend on an annualized basis and a yield of 1.46%. This is a boost from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s payout ratio is currently 27.53%.

Institutional Investors Weigh In On FB Financial

Several large investors have recently bought and sold shares of FBK. Wasatch Advisors LP grew its holdings in shares of FB Financial by 4.7% in the 3rd quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider’s stock valued at $57,529,000 after buying an additional 55,071 shares during the period. Geode Capital Management LLC lifted its holdings in FB Financial by 0.9% during the third quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock worth $38,272,000 after acquiring an additional 7,021 shares in the last quarter. Northern Trust Corp grew its stake in FB Financial by 15.3% in the fourth quarter. Northern Trust Corp now owns 424,882 shares of the financial services provider’s stock valued at $21,886,000 after acquiring an additional 56,474 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of FB Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 376,288 shares of the financial services provider’s stock worth $19,383,000 after acquiring an additional 2,943 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of FB Financial by 3.0% during the fourth quarter. Federated Hermes Inc. now owns 339,938 shares of the financial services provider’s stock worth $17,510,000 after purchasing an additional 9,995 shares during the period. Institutional investors own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FBK. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their price target on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Hovde Group cut FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, FB Financial presently has an average rating of “Hold” and a consensus 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.