FB Financial (NYSE:FBK) Major Shareholder James Austin Mcpherson Sells 8,500 Shares

FB Financial Corporation (NYSE:FBK) major shareholder James Austin Mcpherson sold 8,500 shares of the company’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 directly owned 9,484 shares in the company, valued at $569,609.04. This trade represents a 47.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

FB Financial Price Performance

NYSE:FBK opened at $58.59 on Wednesday. The company’s fifty day moving average price is $56.78 and its 200-day moving average price is $54.01. FB Financial Corporation has a 1-year low of $38.83 and a 1-year high of $60.80. The firm has a market capitalization of $3.13 billion, a P/E ratio of 27.38 and a beta of 0.98.

FB Financial Dividend Announcement

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

Hedge Funds Weigh In On FB Financial

Large investors have recently added to or reduced their stakes in the stock. Savant Capital LLC lifted its stake in FB Financial by 5.2% in the third quarter. Savant Capital LLC now owns 4,977 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 245 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of FB Financial by 6.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 4,705 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 278 shares in the last quarter. UMB Bank n.a. lifted its position in shares of FB Financial by 155.9% during the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 293 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of FB Financial by 4.1% during the third quarter. Quadrant Capital Group LLC now owns 7,613 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 299 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in FB Financial by 24.5% in the third quarter. GAMMA Investing LLC now owns 1,964 shares of the financial services provider’s stock valued at $109,000 after buying an additional 387 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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