NASHVILLE—James W. Ayers, a major shareholder of FB Financial Corp (NYSE:FBK), recently acquired additional company shares. According to a filing with the Securities and Exchange Commission, Ayers purchased 2,000 shares of common stock on December 23, 2024, at a price of $51.86 per share. The purchase comes as InvestingPro analysis indicates the stock is currently undervalued, with the company showing strong momentum with a 42% gain over the past six months. The total value of this transaction amounted to $103,720. Following this purchase, Ayers holds a total of 10,911,841 shares in the company. With a market capitalization of $2.4 billion and a consistent track record of raising dividends for seven consecutive years, FB Financial Corp demonstrates strong fundamentals. InvestingPro subscribers can access detailed analysis and 6 more exclusive tips about FBK's outlook. FB Financial Corp, headquartered in Nashville, operates as a state commercial bank and continues to be a significant player in the financial sector.
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, reaching $0.86. The company also noted a 7.2% annualized loan growth and a 5.4% growth in non-brokered deposits, despite facing challenges in its construction loan portfolio. Looking to the future, FB Financial anticipates mid-single-digit growth in Q4 2024 and aims for low double-digit growth in loans and deposits for 2025. The company's net interest margin is expected to range between 3.50% and 3.60% in the next quarter. Additionally, the company hired 20 senior revenue producers and expanded operations into Tuscaloosa, Alabama. FB Financial's capital ratios remained strong, with a tangible common equity ratio of 10.4% and a CET1 ratio of 12.7%. The company remains open to potential bank acquisitions that align with its cultural and financial goals. These are recent developments that provide insight into the company's performance and future direction.
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