NASHVILLE—James W. Ayers, major stockholder Company FB Financial Corp (NYSE:), recently acquired 500 shares of the company’s common stock. The transaction, dated October 30, 2024, was made at a price of $51 per share, including a total purchase price of $25,500.
After this acquisition, Ayers owns 10,906,841 shares in the company. This transaction was reported in a Form 4 filing with the Securities and Exchange Commission on November 1, 2024.
In other recent news, FB Financial Corporation reported a 21% year-over-year increase in adjusted earnings per share (EPS), to $0.86 in the third quarter of 2024. The company’s tangible book value per share has shown growth, with a compound annual growth rate of 12.9% since its initial public offering. Additionally, FB Financial saw a 20% year-over-year increase in net income from tax advances and annualized loan growth of 7.2%. However, it also experienced a decline in construction loans and reported a $16.5 million loss in non-interest income, largely due to a $40.1 million loss on securities.
Looking ahead, FB Financial expects mid-single-digit growth in the fourth quarter of 2024 and targets low-double-digit growth in loans and deposits for 2025. The company also expects a net interest margin of 3.50% to 3.60% for the fourth quarter of 2024.
In other company developments, FB Financial recently hired 20 senior financial planners and expanded in Tuscaloosa, Alabama. The company is always open to bank acquisitions that may suit its cultural and financial objectives. These are some of the recent developments of FB Financial Corporation.
InvestingPro Insights
James W. Ayers’ recent acquisition of shares of FB Financial Corp (NYSE:FBK) is consistent with several positive indicators highlighted by InvestingPro. The company has demonstrated its commitment to shareholder value, as it has increased its dividend for 7 consecutive years. This dividend growth, along with the current dividend yield of 1.39%, may have influenced Ayers’ decision to increase his share.
FB Financial shares have shown strong performance, with a total return of 69.48% over the past year and a return of 32.05% over the past six months. This upward trajectory is also supported by the fact that six analysts have revised their earnings expectations higher in the future, which raises confidence in the company’s near-term prospects.
From a valuation perspective, FB Financial trades at a P/E ratio of 21.26, which is relatively modest in the banking sector. The company’s price-to-book ratio of 1.46 indicates that the stock is trading above its book value, but not excessively so, which may provide room for further appreciation.
It is important to note that FB Financial has been profitable for the past twelve months, with an underlying EPS of $2.30. The company’s operating income ratio stands at a healthy 31.07%, indicating good performance despite challenges in the banking sector.
For investors looking for a comprehensive analysis, InvestingPro offers more information, and 7 more tips available for FB Financial Corp. These tips can provide more context for understanding Ayers’ investment decision and the company’s overall financial health.
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