FB Financial (NYSE:FBK) Reaches New 52-Week High on Insider Buying Activity

FB Financial Co. (NYSE:FBK)’s share price reached a new 52-week high during mid-day trading on Wednesday following insider buying activity. The stock 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 bought 1,000 shares of the company’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 purchase, the insider now owns 10,909,841 shares in the company, valued at approximately $623,497,413.15. The trade was a 0.01 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $55.70 per share, with a total value of $111,400.00. Following the completion of the purchase, the insider now owns 10,908,841 shares of the company’s stock, valued at approximately $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 Analyst Weigh In

FBK has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Finally, Hovde Group increased their price target on FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $47.80.

FB Financial Stock Down 0.4 %

The business’s 50 day simple moving average is $48.40 and its two-hundred day simple moving average is $43.53. The stock has a market capitalization of $2.63 billion, a P/E ratio of 24.68 and a beta of 1.12.

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

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, November 5th. FB Financial’s dividend payout ratio (DPR) is presently 29.69%.

Institutional Investors Weigh In On FB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in FB Financial during the third quarter valued at about $84,000. Raymond James Trust N.A. bought a new position in shares of FB Financial during the 3rd quarter valued at about $201,000. Entropy Technologies LP purchased a new stake in shares of FB Financial in the 3rd quarter valued at $202,000. SG Americas Securities LLC purchased a new stake in shares of FB Financial during the first quarter valued at approximately $165,000. Finally, Martingale Asset Management L P bought a new position in shares of FB Financial during the third quarter valued at approximately $254,000. Hedge funds and other 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.