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

Key Points

• Director Orrin Ingram II bought 29,081 FB Financial shares at an average price of $52.88, investing approximately $1.54 million and increasing his ownership by 30.51%.
• FBK shares traded near $52.10, while the company reported quarterly EPS of $1.21, matching analyst estimates, despite revenue of $175.62 million falling short of expectations.
• Analysts maintain a favorable view, with the stock carrying an average “Buy” rating and a consensus price target of $64.43; FB Financial also pays a $0.21 quarterly dividend.

FB Financial Corporation (NYSE:FBK - Get Free Report) Director Orrin Ingram II acquired 29,081 shares of FB Financial stock in a transaction dated Tuesday, October 20th. The shares were bought at an average price of $52.88 per share, for a total transaction of $1,537,803.28. Following the transaction, the director owned 124,391 shares of the company's stock, valued at approximately $6,577,796.08. The trade was a 30.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

FB Financial Price Performance

Shares of FBK stock traded down $0.15 during mid-day trading on Wednesday, hitting $52.10. The company had a trading volume of 318,909 shares, 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 stock's 50 day moving average price is $54.91 and its 200-day moving average price is $55.28. The company has a market capitalization of $2.60 billion, a P/E ratio of 11.28 and a beta of 0.98.

FB Financial (NYSE:FBK - Get Free Report) last issued its earnings results on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share for the quarter, hitting analysts' consensus estimates of $1.21. The firm had revenue of $175.62 million during the quarter, compared to analyst estimates of $181.56 million. FB Financial had a net margin of 22.62% and a return on equity of 12.32%. On average, equities research analysts expect that FB Financial Corporation will post 4.65 earnings per share for the current year.

FB Financial Announces Dividend

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

Institutional Investors Weigh In On FB Financial

Several large investors have recently added to or reduced their stakes in FBK. BlackRock Inc. purchased a new stake in shares of FB Financial during the second quarter valued at $348,592,000. Dimensional Fund Advisors LP grew its holdings in shares of FB Financial by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider's stock worth $103,905,000 after purchasing an additional 28,023 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in FB Financial by 9.4% in 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 buying an additional 89,465 shares during the period. Bank of America Corp DE purchased a new position in FB Financial in the 2nd quarter worth about $39,460,000. Finally, Davis Asset Management L.P. purchased a new position in FB Financial in the 2nd quarter worth about $34,275,000. 65.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FBK has been the subject of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of FB Financial from $65.00 to $64.00 and set an "outperform" rating for the company in a report on Wednesday, October 14th. Truist Financial set a $64.00 price target on shares of FB Financial in a research report on Wednesday, October 14th. Weiss Ratings raised shares of FB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 9th. Benchmark upped their price target 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, 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. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price 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.

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