James W. Ayers, a significant shareholder of FB Financial Corp (NYSE:FBK), has increased his stake in the company with recent purchases of common stock. According to a recent filing, Ayers acquired a total of 4,000 shares over two consecutive days, October 16 and 17. The shares were bought at prices ranging from $49.89 to $50.78, amounting to a total investment of approximately $201,340.
Following these transactions, Ayers now holds 10,890,841 shares directly. These purchases reflect Ayers' ongoing investment in FB Financial Corp, a Nashville-based financial services company.
In other recent news, FB Financial Corporation reported a 21% year-over-year increase in adjusted earnings per share for the third quarter of 2024, with a figure of $0.86. The company's tangible book value per share also saw significant growth, with a compound annual growth rate of 12.9% since its IPO. Amid these developments, FB Financial anticipates mid-single-digit growth in the fourth quarter of 2024 and aims for low double-digit growth in loans and deposits for 2025. In other company news, FB Financial expanded into Tuscaloosa, Alabama, and hired 20 senior revenue producers, indicating the company's growth strategy. Despite a decline in construction loans, the company maintains a strong balance sheet with approximately half of the loan portfolio fixed and $2.7 billion in indexed deposits. The company's management remains confident in handling classified loans, with minimal expected losses. These are all recent developments that point towards the company's continued commitment to growth and stability.
InvestingPro Insights
James W. Ayers' recent purchases of FB Financial Corp (NYSE:FBK) shares align with several positive indicators highlighted by InvestingPro. The company has demonstrated a commitment to shareholder value, having raised its dividend for 6 consecutive years, as noted in an InvestingPro Tip. This consistent dividend growth, coupled with a current dividend yield of 1.36%, may have factored into Ayers' decision to increase his stake.
The stock's performance has been particularly strong, with InvestingPro data showing a 73.96% total return over the past year and a 41.73% return in the last six months. This upward momentum is further supported by an InvestingPro Tip indicating a large price uptick over the last six months, suggesting growing investor confidence in FBK's prospects.
Despite a revenue decline of 10.49% in the last twelve months, FB Financial Corp maintains a solid financial position. The company's P/E ratio of 21.41 and price-to-book ratio of 1.47 indicate that the stock is reasonably valued relative to its earnings and book value. Additionally, an InvestingPro Tip reveals that analysts predict the company will be profitable this year, which may have influenced Ayers' decision to increase his holdings.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for FB Financial Corp, providing deeper insights into the company's financial health and market position.
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