FB Financial (NYSE:FBK) Reaches New 12-Month High on Insider Buying Activity

Shares of FB Financial Co. (NYSE:FBK) 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 traded. The stock had previously closed at $57.10.

Specifically, major shareholder James W. Ayers bought 1,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $57.15 per share, for a total transaction of $57,150.00. Following the transaction, the insider now owns 10,909,841 shares of the company’s stock, valued at $623,497,413.15. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction on Friday, November 8th. The shares were purchased at an average price of $55.70 per share, with a total value of $111,400.00. Following the completion of the transaction, the insider now owns 10,908,841 shares of the company’s stock, valued at approximately $607,622,443.70. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FBK. Piper Sandler downgraded FB Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Hovde Group raised their price objective on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a report on Monday, October 21st. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Finally, Keefe, Bruyette & Woods raised their price objective on FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.80.

FB Financial Stock Down 1.0 %

The company has a 50 day simple moving average of $48.22 and a 200-day simple moving average of $43.43. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 25.29 and a beta of 1.12.

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

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, November 5th. FB Financial’s payout ratio is 29.69%.

Institutional Trading of FB Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in shares of FB Financial by 73.6% in the first quarter. BNP Paribas Financial Markets now owns 18,029 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 7,643 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of FB Financial by 1.3% during the 1st 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 during the last quarter. SG Americas Securities LLC bought a new position in FB Financial during the first quarter valued at $165,000. Illinois Municipal Retirement Fund raised its stake in shares of FB Financial by 2.4% in the first quarter. Illinois Municipal Retirement Fund now owns 19,904 shares of the financial services provider’s stock valued at $750,000 after buying an additional 468 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of FB Financial by 13.5% during the 1st quarter. Russell Investments Group Ltd. now owns 12,796 shares of the financial services provider’s stock worth $482,000 after acquiring an additional 1,518 shares during the period. Institutional investors own 65.40% of the company’s stock.

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.