FB Financial (NYSE:FBK) Sets New 52-Week High Following Insider Buying Activity

FB Financial Co. (NYSE:FBK)’s share price hit a new 52-week high on Wednesday after an insider bought additional shares in the company. The company traded as high as $58.88 and last traded at $58.14, with a volume of 53282 shares traded. The stock had previously closed at $57.10.

Specifically, major shareholder James W. Ayers purchased 1,000 shares of FB Financial stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $57.15 per share, for a total transaction of $57,150.00. Following the completion of the transaction, the insider now owns 10,909,841 shares in the company, valued at $623,497,413.15. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were bought at an average price of $55.70 per share, for a total transaction of $111,400.00. Following the completion of the transaction, the insider now owns 10,908,841 shares of the company’s stock, valued at approximately $607,622,443.70. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

FBK has been the topic of several recent analyst reports. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $41.00 to $46.00 in a research note on Wednesday, July 17th. Hovde Group boosted their price target 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 raised their price target on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.80.

FB Financial Stock Performance

The firm has a market capitalization of $2.64 billion, a P/E ratio of 25.29 and a beta of 1.12. The firm has a 50-day moving average of $48.22 and a 200-day moving average of $43.43.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $169.13 million for the quarter, compared to analyst estimates of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same quarter last year, the firm earned $0.71 EPS. Equities analysts anticipate that FB Financial Co. will post 3.38 EPS for the current fiscal year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.68 annualized dividend and a dividend yield of 1.20%. FB Financial’s dividend payout ratio (DPR) is presently 29.69%.

Institutional Trading of FB Financial

Several large investors have recently added to or reduced their stakes in FBK. BNP Paribas Financial Markets boosted its stake in shares of FB Financial by 27.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,760 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 2,090 shares in the last quarter. FMR LLC lifted its holdings in FB Financial by 42.0% in the third quarter. FMR LLC now owns 7,129 shares of the financial services provider’s stock worth $335,000 after buying an additional 2,109 shares during the period. The Manufacturers Life Insurance Company boosted its position in FB Financial by 7.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,284 shares of the financial services provider’s stock valued at $905,000 after acquiring an additional 1,317 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new position in shares of FB Financial during the 3rd quarter worth approximately $406,000. Finally, Raymond James Trust N.A. bought a new position in shares of FB Financial in the 3rd quarter worth approximately $201,000. Institutional investors 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.