FB Financial Co. (NYSE:FBK) Major Shareholder Purchases $96,260.00 in Stock

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers acquired 2,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were bought at an average price of $48.13 per share, with a total value of $96,260.00. Following the completion of the transaction, the insider now directly owns 10,902,341 shares of the company’s stock, valued at approximately $524,729,672.33. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

FB Financial Price Performance

FBK stock traded down $0.86 during midday trading on Friday, reaching $47.79. The company had a trading volume of 160,306 shares, compared to its average volume of 144,966. The company has a market capitalization of $2.25 billion, a P/E ratio of 20.08 and a beta of 1.13. FB Financial Co. has a 1 year low of $28.58 and a 1 year high of $51.40. The firm has a 50-day moving average price of $46.76 and a 200-day moving average price of $41.89.

FB Financial (NYSE:FBK) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. During the same quarter in the prior year, the company earned $0.71 earnings per share. On average, equities analysts predict that FB Financial Co. will post 3.25 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FBK. Wasatch Advisors LP lifted its holdings in shares of FB Financial by 13.1% during the 1st quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock valued at $45,172,000 after buying an additional 139,395 shares during the period. Dimensional Fund Advisors LP raised its stake in 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 in the last quarter. Millennium Management LLC lifted its position 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 worth $4,628,000 after buying an additional 85,620 shares during the last quarter. Salzhauer Michael purchased a new stake in shares of FB Financial in the second quarter worth approximately $2,596,000. Finally, Heartland Advisors Inc. boosted its holdings in shares of FB Financial by 22.0% in 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 period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FBK. Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $41.00 to $46.00 in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their target price on FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, October 16th. Stephens reissued an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a research report on Tuesday, July 16th. Hovde Group raised their price target on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, FB Financial presently has an average rating of “Hold” and an average price target of $47.80.

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.