Insider Buying: FB Financial Co. (NYSE:FBK) Director Buys 7,200 Shares of Stock

FB Financial Co. (NYSE:FBK) Director James W. Iv Cross purchased 7,200 shares of the stock in a transaction on Wednesday, April 16th. The stock was bought at an average price of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the transaction, the director now directly owns 61,278 shares of the company’s stock, valued at approximately $2,481,146.22. This trade represents a 13.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

FB Financial Price Performance

FBK opened at $40.56 on Friday. The stock has a market capitalization of $1.89 billion, a P/E ratio of 16.42 and a beta of 0.92. The company’s 50 day simple moving average is $46.58 and its 200-day simple moving average is $50.21. FB Financial Co. has a one year low of $34.50 and a one year high of $58.88.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. The firm had revenue of $130.67 million for the quarter, compared to analyst estimates of $132.28 million. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. During the same period last year, the company earned $0.85 EPS. As a group, analysts anticipate that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.19 per share. This is a boost from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Tuesday, February 11th. FB Financial’s payout ratio is currently 27.94%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in shares of FB Financial by 293.8% during the fourth quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider’s stock worth $13,544,000 after buying an additional 196,172 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of FB Financial in the 4th quarter valued at $9,546,000. 12th Street Asset Management Company LLC boosted its position in shares of FB Financial by 65.2% in the 4th quarter. 12th Street Asset Management Company LLC now owns 197,300 shares of the financial services provider’s stock worth $10,163,000 after purchasing an additional 77,885 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of FB Financial by 6,237.7% during the first quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider’s stock worth $2,962,000 after purchasing an additional 62,876 shares during the period. Finally, Tudor Investment Corp ET AL increased its holdings in FB Financial by 489.5% in the fourth quarter. Tudor Investment Corp ET AL now owns 70,696 shares of the financial services provider’s stock valued at $3,642,000 after purchasing an additional 58,703 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FBK. Keefe, Bruyette & Woods lowered their target price on shares of FB Financial from $58.00 to $52.00 and set a “market perform” rating on the stock in a report on Thursday. Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. Stephens cut their target price on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Piper Sandler decreased their price target on FB Financial from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $53.80.

About FB Financial

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.