In a recent SEC filing, James W. Ayers, a significant shareholder of FB Financial Corp (NYSE:FBK), reported the purchase of 2,000 shares of the company's common stock. The transaction, which took place on January 6, 2025, was executed at a weighted average price of $51.40 per share, amounting to a total value of $102,800. The purchase comes as FB Financial, currently valued at $2.35 billion, shows signs of being undervalued according to InvestingPro Fair Value analysis.
Following this acquisition, Ayers holds a total of 10,913,841 shares in FB Financial Corp. The shares were acquired in multiple transactions, with prices ranging from $51.25 to $51.50 per share. Ayers is classified as a ten percent owner in the company, reflecting his substantial stake in the Nashville-based state commercial bank. The stock has gained over 32% in the past six months, and investors should note the company's upcoming earnings report on January 21, 2025. For comprehensive insider trading analysis and additional insights, access the full FB Financial research report on InvestingPro.
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 experienced a 7.2% annualized loan growth and a 5.4% increase in non-brokered deposits. However, there was a noted decline in construction loans, with the construction and development concentration ratio dropping to 69%. Looking ahead, 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. The company expanded its team by hiring 20 senior revenue producers and broadening its reach into Tuscaloosa, Alabama. FB Financial also expressed openness towards potential bank acquisitions that align with its cultural and financial objectives. These recent developments suggest a proactive strategy for growth and consolidation in the coming years.
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