FB Financial Co. (NYSE:FBK) Short Interest Update

FB Financial Co. (NYSE:FBK) was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 470,100 shares, an increase of 12.9% from the July 31st total of 416,400 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 171,300 shares, the days-to-cover ratio is presently 2.7 days.

FB Financial Trading Up 0.9 %

NYSE:FBK opened at $48.22 on Friday. FB Financial has a 1 year low of $27.42 and a 1 year high of $48.80. The firm’s fifty day simple moving average is $43.36 and its 200 day simple moving average is $38.97. The firm has a market capitalization of $2.27 billion, a PE ratio of 20.26 and a beta of 1.14.

FB Financial (NYSE:FBK) last posted its earnings results on Monday, July 15th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. The business had revenue of $128.22 million for the quarter, compared to analyst estimates of $123.52 million. As a group, analysts anticipate that FB Financial will post 3.23 EPS for the current fiscal year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were paid a $0.17 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.68 dividend on an annualized basis and a yield of 1.41%. FB Financial’s payout ratio is presently 28.57%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FBK shares. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $41.00 to $46.00 in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods increased their price target on shares of FB Financial from $40.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. dropped their price target on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a research note on Thursday, June 27th. Finally, Stephens restated an “overweight” rating and set a $45.00 price target on shares of FB Financial in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.33.

Institutional Trading of FB Financial

A number of hedge funds have recently bought and sold shares of FBK. Heartland Advisors Inc. bought a new stake in FB Financial in the 4th quarter valued at $11,237,000. Wasatch Advisors LP boosted its holdings in FB Financial by 26.3% in the 4th quarter. Wasatch Advisors LP now owns 1,060,062 shares of the financial services provider’s stock valued at $42,243,000 after purchasing an additional 220,835 shares during the period. Dimensional Fund Advisors LP boosted its holdings in FB Financial by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock valued at $75,623,000 after purchasing an additional 106,553 shares during the period. Millennium Management LLC boosted its holdings in FB Financial by 259.9% in the 2nd quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock valued at $4,628,000 after purchasing an additional 85,620 shares during the period. Finally, Salzhauer Michael bought a new stake in FB Financial in the 2nd quarter valued at $2,596,000. 65.40% of the stock is owned by institutional investors.

About FB Financial

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.