FB Financial (NYSE:FBK) Director Purchases $1,537,803.28 in Stock

FB Financial Corporation (NYSE:FBK) Director Orrin Ingram II bought 29,081 shares of FB Financial stock in a transaction dated Tuesday, October 20th. The shares were bought at an average cost of $52.88 per share, for a total transaction of $1,537,803.28. Following the completion of the transaction, the director owned 124,391 shares of the company’s stock, valued at approximately $6,577,796.08. This trade represents a 30.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

FB Financial Trading Down 0.3%

Shares of FB Financial stock traded down $0.15 on Wednesday, hitting $52.10. 318,909 shares of the company traded hands, compared to its average volume of 564,220. FB Financial Corporation has a 52 week low of $49.24 and a 52 week high of $62.65. The company has a market cap of $2.60 billion, a PE ratio of 11.28 and a beta of 0.98. The stock’s 50 day moving average price is $54.91 and its 200-day moving average price is $55.28.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.21 EPS for the quarter, hitting the consensus estimate of $1.21. The company had revenue of $175.62 million for the quarter, compared to the consensus estimate of $181.56 million. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. As a group, research analysts anticipate that FB Financial Corporation will post 4.65 EPS for the current fiscal year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 11th. FB Financial’s dividend payout ratio is presently 18.67%.

Institutional Trading of FB Financial

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in FB Financial in the 2nd quarter valued at about $348,592,000. Dimensional Fund Advisors LP raised its holdings in shares of FB Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock worth $103,905,000 after acquiring an additional 28,023 shares during the period. Deprince Race & Zollo Inc. raised its holdings in shares of FB Financial by 9.4% during the 1st quarter. Deprince Race & Zollo Inc. now owns 1,036,393 shares of the financial services provider’s stock worth $53,830,000 after acquiring an additional 89,465 shares during the period. Bank of America Corp DE acquired a new position in shares of FB Financial during the 2nd quarter valued at about $39,460,000. Finally, Davis Asset Management L.P. acquired a new position in shares of FB Financial during the 2nd quarter valued at about $34,275,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FBK. Raymond James Financial increased their price objective on shares of FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Truist Financial set a $64.00 target price on FB Financial in a report on Wednesday, October 14th. Benchmark raised their target price on shares of FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods lowered their price target on FB Financial from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $64.43.

FB Financial Company Profile

FB Financial Corporation (NYSE: FBK) is a financial services holding company headquartered in Nashville, Tennessee. Its principal subsidiary, FirstBank, provides banking and financial services to individuals, businesses and institutions through a network of branches and digital banking channels.

FirstBank offers deposit accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, and wealth-management solutions. Its lending activities include residential mortgages, commercial real estate, business loans and consumer credit products.