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 firm’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $60.06, for a total transaction of $510,510.00. Following the completion of the sale, the insider owned 9,484 shares in the company, valued at $569,609.04. The trade was a 47.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

FB Financial Trading Down 1.8%

NYSE:FBK traded down $1.05 during trading hours on Tuesday, hitting $58.59. The company’s stock had a trading volume of 159,740 shares, compared to its average volume of 207,543. FB Financial Corporation has a 52-week low of $38.83 and a 52-week high of $60.80. The stock has a market capitalization of $3.13 billion, a P/E ratio of 27.38 and a beta of 0.98. The stock has a fifty day moving average of $56.78 and a 200-day moving average of $54.01.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. FB Financial’s dividend payout ratio (DPR) is presently 35.51%.

Institutional Trading of FB Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Investors Research Corp acquired a new stake in FB Financial in the third quarter valued at $26,000. UMB Bank n.a. increased its holdings in shares of FB Financial by 155.9% in the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 293 shares in the last quarter. Tripletail Wealth Management LLC purchased a new position in shares of FB Financial in the 3rd quarter valued at about $31,000. Bessemer Group Inc. lifted its stake in shares of FB Financial by 294.7% in the third quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 557 shares during the period. Finally, First Horizon Corp purchased a new stake in FB Financial during the third quarter worth about $45,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FBK has been the topic of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $66.00 price target (up from $61.00) on shares of FB Financial in a research note on Thursday, October 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of FB Financial in a research report on Wednesday, October 8th. Piper Sandler boosted their target price on FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Wall Street Zen upgraded FB Financial from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.80.

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.