FB Financial Co. (NYSE:FBK) Major Shareholder Purchases $96,860.00 in Stock

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were acquired at an average price of $48.43 per share, with a total value of $96,860.00. Following the transaction, the insider now directly owns 10,898,341 shares of the company’s stock, valued at approximately $527,806,654.63. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

FB Financial Price Performance

Shares of FB Financial stock opened at $47.80 on Friday. The firm’s 50-day moving average is $46.92 and its two-hundred day moving average is $42.02. FB Financial Co. has a 1 year low of $28.58 and a 1 year high of $51.40. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 20.08 and a beta of 1.13.

FB Financial (NYSE:FBK) last released its quarterly 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 business had revenue of $169.13 million during the quarter, compared to analyst estimates of $127.44 million. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, equities analysts expect that FB Financial Co. will post 3.25 earnings per share for the current year.

Hedge Funds Weigh In On FB Financial

Several institutional investors and hedge funds have recently bought and sold shares of FBK. Allspring Global Investments Holdings LLC boosted its holdings in FB Financial by 7.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock worth $10,786,000 after acquiring an additional 15,739 shares in the last quarter. Raymond James & Associates grew its stake in shares of FB Financial by 5.0% during the 3rd quarter. Raymond James & Associates now owns 129,545 shares of the financial services provider’s stock worth $6,080,000 after purchasing an additional 6,183 shares during the period. nVerses Capital LLC purchased a new position in shares of FB Financial during the 3rd quarter valued at approximately $84,000. Creative Planning lifted its stake in shares of FB Financial by 4.6% in the 3rd quarter. Creative Planning now owns 26,308 shares of the financial services provider’s stock valued at $1,235,000 after purchasing an additional 1,149 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in FB Financial during the third quarter worth $667,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FBK shares. Keefe, Bruyette & Woods boosted their price objective on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. Hovde Group boosted their target price on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Stephens reaffirmed an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a research note on Tuesday, July 16th. Finally, Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their price objective for the company 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 assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.80.

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.