James W. Ayers Purchases 2,000 Shares of FB Financial Co. (NYSE:FBK) Stock

FB Financial Co. (NYSE:FBK) major shareholder James W. Ayers purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were purchased at an average cost of $48.43 per share, for a total transaction of $96,860.00. Following the completion of the purchase, the insider now owns 10,898,341 shares in the company, valued at $527,806,654.63. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

FB Financial Trading Down 1.8 %

Shares of NYSE:FBK opened at $47.79 on Friday. 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 PE ratio of 20.87 and a beta of 1.13. The stock’s fifty day simple moving average is $46.92 and its two-hundred day simple moving average is $42.02.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $169.13 million for the quarter, compared to analysts’ expectations 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 previous year, the company earned $0.71 earnings per share. On average, sell-side analysts forecast that FB Financial Co. will post 3.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Hovde Group upped their price objective on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods lifted their price objective on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. Finally, Stephens restated an “overweight” rating and issued a $45.00 target price on shares of FB Financial in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, FB Financial has a consensus rating of “Hold” and an average price target of $47.80.

Hedge Funds Weigh In On FB Financial

Institutional investors have recently modified their holdings of the business. Wasatch Advisors LP boosted its position in FB Financial by 13.1% in the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock worth $45,172,000 after purchasing an additional 139,395 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of FB Financial by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after purchasing an additional 106,553 shares during the period. Millennium Management LLC boosted its holdings in shares of FB Financial by 259.9% in the 2nd quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock worth $4,628,000 after buying an additional 85,620 shares during the last quarter. Salzhauer Michael bought a new position in FB Financial during the second quarter valued at about $2,596,000. Finally, Heartland Advisors Inc. increased its holdings in FB Financial by 22.0% during the first quarter. Heartland Advisors Inc. now owns 318,622 shares of the financial services provider’s stock worth $11,999,000 after buying an additional 57,355 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

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.