FB Financial Co. (NYSE:FBK) Sees Large Increase in Short Interest

FB Financial Co. (NYSE:FBK) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 501,100 shares, a growth of 6.6% from the August 15th total of 470,100 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 173,900 shares, the days-to-cover ratio is presently 2.9 days.

FB Financial Price Performance

NYSE FBK traded up $0.28 during trading hours on Thursday, reaching $48.23. The company’s stock had a trading volume of 2,507 shares, compared to its average volume of 143,886. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 20.15 and a beta of 1.13. The company’s 50-day moving average is $45.50 and its two-hundred day moving average is $39.95. FB Financial has a 1-year low of $27.42 and a 1-year high of $49.97.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $128.22 million during the quarter, compared to analyst estimates of $123.52 million. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. Equities analysts forecast that FB Financial will post 3.25 EPS for the current fiscal year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.41%. FB Financial’s dividend payout ratio (DPR) is presently 28.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP raised its holdings in shares of FB Financial by 13.1% during the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock valued at $45,172,000 after acquiring an additional 139,395 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in FB Financial by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,759,024 shares of the financial services provider’s stock valued at $70,099,000 after purchasing an additional 40,394 shares in the last quarter. Salzhauer Michael purchased a new position in FB Financial in the 2nd quarter valued at $2,596,000. Quest Partners LLC acquired a new stake in FB Financial during the 2nd quarter worth $450,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of FB Financial by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 291,337 shares of the financial services provider’s stock valued at $11,610,000 after buying an additional 12,443 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stephens restated an “overweight” rating and set a $45.00 target price on shares of FB Financial in a research report on Tuesday, July 16th. JPMorgan Chase & Co. decreased their price objective on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Thursday, June 27th. Keefe, Bruyette & Woods upped their target price on FB Financial from $40.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Finally, Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $41.00 to $46.00 in a research report on Wednesday, July 17th. One investment 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.33.

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.