Insider Buying: FB Financial Co. (NYSE:FBK) Major Shareholder Acquires $104,140.00 in Stock

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers bought 2,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average cost of $52.07 per share, for a total transaction of $104,140.00. Following the acquisition, the insider now directly owns 10,921,841 shares of the company’s stock, valued at $568,700,260.87. The trade was a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

FB Financial Stock Down 2.7 %

Shares of FBK opened at $52.89 on Friday. The firm has a market capitalization of $2.47 billion, a PE ratio of 21.41 and a beta of 1.15. The firm has a 50-day moving average price of $52.99 and a 200 day moving average price of $49.92. FB Financial Co. has a 52-week low of $33.35 and a 52-week high of $58.88.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. On average, equities analysts expect that FB Financial Co. will post 3.61 EPS for the current year.

FB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, February 11th. This represents a $0.76 annualized dividend and a yield of 1.44%. This is a boost from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s dividend payout ratio (DPR) is currently 27.53%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FBK shares. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Hovde Group cut FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a research note on Monday, November 18th. Finally, Keefe, Bruyette & Woods upped their price target on shares of FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $50.20.

Institutional Investors Weigh In On FB Financial

Several hedge funds and other institutional investors have recently bought and sold shares of FBK. Renaissance Technologies LLC acquired a new stake in FB Financial during the second quarter valued at approximately $217,000. Marshall Wace LLP bought a new position in shares of FB Financial in the second quarter valued at $630,000. AQR Capital Management LLC lifted its position in shares of FB Financial by 30.5% during the 2nd quarter. AQR Capital Management LLC now owns 40,704 shares of the financial services provider’s stock valued at $1,589,000 after acquiring an additional 9,512 shares during the last quarter. Millennium Management LLC boosted its stake in shares of FB Financial by 259.9% during the 2nd quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock worth $4,628,000 after acquiring an additional 85,620 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of FB Financial by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,967 shares of the financial services provider’s stock worth $701,000 after acquiring an additional 743 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

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.