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James W. Ayers, a significant stakeholder in FB Financial Corp (NYSE:FBK), recently increased his investment in the company with a purchase of common stock. According to a recent SEC filing, Ayers acquired a total of 4,000 shares over two transactions. The timing appears strategic, as InvestingPro data shows FB Financial's stock has gained over 27% in the past six months, though analysis suggests the stock remains undervalued relative to its Fair Value.
The first transaction occurred on January 8, 2025, where Ayers purchased 2,000 shares at a weighted average price of $50.26, with prices ranging from $50.25 to $50.30. The second transaction took place on January 10, 2025, involving another 2,000 shares at an average price of $48.46, with prices ranging from $48.30 to $48.76. The total value of these purchases amounts to approximately $197,440.
Following these transactions, Ayers now holds a total of 10,917,841 shares in FB Financial Corp, representing a significant position in the $2.27 billion market cap company. With earnings scheduled in 11 days and analysts maintaining positive price targets ranging from $53.50 to $65.00, investors seeking detailed analysis can access the comprehensive Pro Research Report available 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 saw a 20% year-over-year increase in pre-tax pre-provision net revenue. However, it noted a decline in construction loans and a non-interest income loss of $16.5 million, primarily due to a $40.1 million loss on securities.
FB Financial Corporation anticipates mid-single-digit growth in Q4 2024 and aims for low double-digit growth in loans and deposits for 2025. The company also expects a net interest margin range of 3.50% to 3.60% in Q4 2024.
Despite challenges, FB Financial Corporation expanded into Tuscaloosa, Alabama, and hired 20 senior revenue producers. The company remains open to bank acquisitions that align culturally and financially. Finally, the company's executives expressed optimism for the final quarter of the year and the outlook for 2025.
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