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 the stock in a transaction on Tuesday, October 20th. The shares were acquired at an average cost of $52.88 per share, for a total transaction of $1,537,803.28. Following the purchase, the director owned 124,391 shares in the company, valued at $6,577,796.08. The trade was a 30.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

FB Financial Stock Down 0.2%

Shares of NYSE FBK opened at $53.51 on Friday. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 11.89 and a beta of 0.98. FB Financial Corporation has a 52 week low of $49.24 and a 52 week high of $62.65. The firm has a 50-day simple moving average of $54.57 and a 200-day simple moving average of $55.27.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. The company had revenue of $175.62 million during the quarter, compared to analysts’ expectations of $181.56 million. As a group, equities research analysts expect that FB Financial Corporation will post 4.65 EPS for the current year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.84 annualized dividend and a yield of 1.6%. FB Financial’s dividend payout ratio is presently 18.67%.

Institutional Trading of FB Financial

A number of large investors have recently made changes to their positions in FBK. Yousif Capital Management LLC increased its stake in FB Financial by 17.7% in the third quarter. Yousif Capital Management LLC now owns 12,699 shares of the financial services provider’s stock valued at $657,000 after purchasing an additional 1,912 shares during the period. Brookstone Capital Management grew its stake in shares of FB Financial by 96.4% in the 3rd quarter. Brookstone Capital Management now owns 8,148 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 4,000 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of FB Financial by 9.2% during the third quarter. GAMMA Investing LLC now owns 2,562 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 216 shares during the last quarter. Versant Capital Management Inc increased its stake in FB Financial by 385.0% in the 3rd quarter. Versant Capital Management Inc now owns 2,294 shares of the financial services provider’s stock valued at $119,000 after buying an additional 1,821 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in FB Financial during the 2nd quarter worth $410,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FBK has been the subject of several recent research reports. Truist Financial set a $64.00 price target on shares of FB Financial in a research report on Wednesday, October 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of FB Financial in a research note on Wednesday, October 14th. Keefe, Bruyette & Woods reduced their target price on shares of FB Financial from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. 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 report on Wednesday, July 1st. Finally, Weiss Ratings raised shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $64.43.

About FB Financial

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.