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 company’s stock in a transaction dated Wednesday, October 23rd. The shares were purchased at an average cost of $48.43 per share, for a total transaction of $96,860.00. Following the transaction, the insider now directly owns 10,898,341 shares in the company, valued at approximately $527,806,654.63. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

FB Financial Trading Down 1.8 %

FBK stock opened at $47.79 on Friday. The firm has a 50 day moving average of $46.92 and a 200-day moving average of $42.02. The firm has a market capitalization of $2.25 billion, a P/E ratio of 20.87 and a beta of 1.13. FB Financial Co. has a 12 month low of $28.58 and a 12 month high of $51.40.

FB Financial (NYSE:FBK) last released its quarterly 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. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The firm had revenue of $169.13 million during the quarter, compared to analyst estimates of $127.44 million. During the same period in the previous year, the business earned $0.71 EPS. Sell-side analysts predict that FB Financial Co. will post 3.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Hovde Group boosted their price objective on FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and upped their price target for the company from $41.00 to $46.00 in a research note on Wednesday, July 17th. Stephens reiterated an “overweight” rating and issued a $45.00 price objective on shares of FB Financial in a research note on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.80.

Hedge Funds Weigh In On FB Financial

A number of institutional investors have recently added to or reduced their stakes in FBK. nVerses Capital LLC purchased a new position in shares of FB Financial during the third quarter worth about $84,000. SG Americas Securities LLC bought a new position in shares of FB Financial in the 1st quarter worth $165,000. Renaissance Technologies LLC purchased a new stake in shares of FB Financial during the 2nd quarter valued at $217,000. ProShare Advisors LLC lifted its holdings in shares of FB Financial by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 494 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in FB Financial by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 1,067 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors.

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.