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

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $48.13 per share, with a total value of $96,260.00. Following the transaction, the insider now directly owns 10,902,341 shares of the company’s stock, valued at $524,729,672.33. This represents 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 this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

FB Financial Price Performance

Shares of NYSE FBK opened at $47.79 on Monday. FB Financial Co. has a fifty-two week low of $28.58 and a fifty-two week high of $51.40. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 20.87 and a beta of 1.13. The business has a 50-day moving average of $46.92 and a 200-day moving average of $42.06.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The firm had revenue of $169.13 million for the quarter, compared to analyst estimates of $127.44 million. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, sell-side analysts expect that FB Financial Co. will post 3.34 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FBK shares. Hovde Group upped their target price on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods increased their price objective on FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, October 16th. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $41.00 to $46.00 in a research report on Wednesday, July 17th. Finally, Stephens reaffirmed an “overweight” rating and set a $45.00 price target on shares of FB Financial in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $47.80.

Hedge Funds Weigh In On FB Financial

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in FB Financial by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock valued at $97,816,000 after acquiring an additional 49,313 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of FB Financial by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 213,948 shares of the financial services provider’s stock valued at $8,057,000 after purchasing an additional 3,630 shares during the period. Wasatch Advisors LP lifted its stake in FB Financial by 13.1% in 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 purchasing an additional 139,395 shares during the last quarter. Principal Financial Group Inc. grew its holdings in FB Financial by 7.3% during the first quarter. Principal Financial Group Inc. now owns 196,464 shares of the financial services provider’s stock worth $7,399,000 after purchasing an additional 13,306 shares during the period. Finally, BNP Paribas Financial Markets increased its position in FB Financial by 73.6% during the first quarter. BNP Paribas Financial Markets now owns 18,029 shares of the financial services provider’s stock worth $679,000 after buying an additional 7,643 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.