James W. Ayers, a significant shareholder of FB Financial Corp (NYSE:FBK), has recently increased his stake in the company. According to a recent SEC filing, Ayers acquired a total of 5,500 shares over three separate transactions between October 18 and October 22, 2024.
The purchases were made at prices ranging from $48.17 to $49.58 per share, amounting to a total investment of $267,170. Following these transactions, Ayers now holds 10,896,341 shares of FB Financial Corp.
These transactions reflect Ayers' continued confidence in the company, as he remains one of its largest shareholders.
In other recent news, FB Financial Corporation reported a 21% year-over-year increase in adjusted earnings, reaching $0.86 per share for the third quarter of 2024. The company anticipates mid-single-digit growth in the fourth quarter of 2024 and is aiming for low double-digit growth in loans and deposits for 2025. The expected net interest margin range is between 3.50% and 3.60% for the fourth quarter of 2024.
FB Financial also noted a decline in construction loans and a commercial real estate concentration ratio of 245%. The company hired 20 senior revenue producers and expanded into Tuscaloosa, Alabama, remaining open to culturally and financially aligned bank acquisitions.
Despite challenges, FB Financial maintained strong capital ratios, with a tangible common equity ratio of 10.4% and a CET1 ratio of 12.7%. Management expressed confidence in handling classified loans, attributing current asset quality issues to operational disputes rather than elevated interest rates. These are some of the recent developments regarding FB Financial Corporation.
InvestingPro Insights
James W. Ayers' recent increase in his FB Financial Corp (NYSE:FBK) stake aligns with several positive indicators highlighted by InvestingPro. The company has demonstrated a strong 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 1.42%, may have factored into Ayers' decision to expand his position.
The market seems to share Ayers' optimism, with FB Financial's stock showing a remarkable 66.28% total return over the past year. This performance is further supported by a 28.35% price return over the last six months, indicating sustained positive momentum. The company's price-to-book ratio of 1.44 suggests that the stock may still be reasonably valued despite these gains.
FB Financial's financial health appears robust, with a market capitalization of $2.26 billion and a P/E ratio of 20.94. The company's profitability is underscored by its operating income margin of 31.07% for the last twelve months, reflecting efficient operations despite a challenging environment.
It's worth noting that 6 analysts have revised their earnings upwards for the upcoming period, as per another InvestingPro Tip. This positive sentiment from analysts, combined with the company's strong financial metrics, provides context for Ayers' increased investment.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights on FB Financial Corp. In fact, there are 7 more InvestingPro Tips available for FBK, which could provide valuable guidance for those considering following Ayers' lead in this investment.
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