FB Financial (NYSE:FBK) Major Shareholder Sells $510,510.00 in Stock

FB Financial Corporation (NYSE:FBK) major shareholder James Austin Mcpherson sold 8,500 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $60.06, for a total value of $510,510.00. Following the sale, the insider directly owned 9,484 shares in the company, valued at $569,609.04. This trade represents a 47.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

FB Financial Stock Down 1.8%

Shares of FBK traded down $1.05 on Tuesday, reaching $58.59. The stock had a trading volume of 159,740 shares, compared to its average volume of 207,543. FB Financial Corporation has a twelve month low of $38.83 and a twelve month high of $60.80. The firm has a market capitalization of $3.13 billion, a PE ratio of 27.38 and a beta of 0.98. The firm has a 50-day moving average of $56.78 and a 200 day moving average of $54.01.

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th were given a $0.19 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.3%. FB Financial’s dividend payout ratio (DPR) is currently 35.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FBK shares. Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Cantor Fitzgerald restated an “overweight” rating and set a $66.00 price objective (up from $61.00) on shares of FB Financial in a research report on Thursday, October 16th. Finally, Piper Sandler upped their target price on FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.80.

Hedge Funds Weigh In On FB Financial

A number of institutional investors have recently modified their holdings of the company. Toth Financial Advisory Corp boosted its holdings in shares of FB Financial by 883.2% in the 4th quarter. Toth Financial Advisory Corp now owns 18,680 shares of the financial services provider’s stock valued at $1,042,000 after purchasing an additional 16,780 shares during the last quarter. Albert D Mason Inc. boosted its holdings in FB Financial by 17.8% in the fourth quarter. Albert D Mason Inc. now owns 27,702 shares of the financial services provider’s stock valued at $1,546,000 after acquiring an additional 4,185 shares during the last quarter. SG Americas Securities LLC boosted its holdings in FB Financial by 230.0% in the fourth quarter. SG Americas Securities LLC now owns 18,526 shares of the financial services provider’s stock valued at $1,034,000 after acquiring an additional 12,912 shares during the last quarter. GAMMA Investing LLC grew its position in FB Financial by 23.9% during the fourth quarter. GAMMA Investing LLC now owns 2,433 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 469 shares during the period. Finally, Penn Capital Management Company LLC increased its stake in FB Financial by 9.2% during the third quarter. Penn Capital Management Company LLC now owns 302,706 shares of the financial services provider’s stock worth $16,891,000 after acquiring an additional 25,610 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Company Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.