FB Financial (NYSE:FBK) Sets New 12-Month High Following Insider Buying Activity

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

Specifically, major shareholder James W. Ayers purchased 1,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $57.15 per share, with a total value of $57,150.00. Following the completion of the acquisition, the insider now owns 10,909,841 shares of the company’s stock, valued at $623,497,413.15. The trade was a 0.01 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder James W. Ayers purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost of $55.70 per share, for a total transaction of $111,400.00. Following the purchase, the insider now directly owns 10,908,841 shares in the company, valued at $607,622,443.70. This trade represents a 0.02 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com cut FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods increased their target price on FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 16th. Finally, Hovde Group boosted their price objective on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $47.80.

FB Financial Price Performance

The firm’s 50-day moving average price is $48.40 and its 200-day moving average price is $43.53. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 24.68 and a beta of 1.12.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $169.13 million during the quarter, compared to analysts’ expectations of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same period in the prior year, the business posted $0.71 EPS. On average, sell-side analysts anticipate that FB Financial Co. will post 3.38 earnings per share for the current year.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, November 5th. FB Financial’s dividend payout ratio is currently 29.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its holdings in shares of FB Financial by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider’s stock worth $691,000 after buying an additional 300 shares during the period. Texas Permanent School Fund Corp boosted its holdings in FB Financial by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider’s stock worth $1,158,000 after purchasing an additional 398 shares in the last quarter. SummerHaven Investment Management LLC increased its position in FB Financial by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock worth $1,011,000 after buying an additional 412 shares during the last quarter. Victory Capital Management Inc. raised its holdings in FB Financial by 2.7% during the second quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider’s stock valued at $685,000 after buying an additional 467 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of FB Financial by 0.4% in the second quarter. Rhumbline Advisers now owns 111,351 shares of the financial services provider’s stock worth $4,346,000 after buying an additional 482 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.