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 acquired 2,000 shares of FB Financial stock in a transaction on Friday, October 25th. The shares were bought at an average cost of $48.13 per share, for a total transaction of $96,260.00. Following the completion of the purchase, the insider now directly owns 10,902,341 shares of the company’s stock, valued at $524,729,672.33. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

FB Financial Trading Down 1.8 %

NYSE FBK opened at $47.79 on Friday. The stock has a market cap of $2.25 billion, a PE 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. The company’s 50-day moving average price is $46.92 and its 200-day moving average price is $42.02.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 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 the consensus estimate of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same period in the prior year, the firm earned $0.71 EPS. As a group, sell-side analysts forecast that FB Financial Co. will post 3.34 earnings per share for the current year.

Analysts Set New Price Targets

FBK has been the topic of several recent research reports. Hovde Group increased their price target on FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods increased their target price on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. Stephens reaffirmed an “overweight” rating and set a $45.00 price target on shares of FB Financial in a research note on Tuesday, July 16th. Finally, Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, FB Financial currently has a consensus rating of “Hold” and a consensus price target of $47.80.

Institutional Investors Weigh In On FB Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its stake in shares of FB Financial by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider’s stock valued at $691,000 after buying an additional 300 shares during the period. Texas Permanent School Fund Corp raised its holdings in shares of FB Financial by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 398 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of FB Financial by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 412 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of FB Financial by 2.7% in the 2nd quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 467 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of FB Financial by 2.4% during the first quarter. Illinois Municipal Retirement Fund now owns 19,904 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 468 shares in the last quarter. 65.40% of the stock is 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.