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 company’s shares are short sold. Based on an average daily volume of 173,900 shares, the short-interest ratio is presently 2.9 days.

FB Financial Stock Performance

FB Financial stock traded up $0.28 during mid-day trading on Thursday, reaching $48.23. 2,507 shares of the company were exchanged, compared to its average volume of 143,886. The firm has a market cap of $2.27 billion, a P/E ratio of 20.15 and a beta of 1.13. FB Financial has a 12-month low of $27.42 and a 12-month high of $49.97. The business has a fifty day moving average of $45.50 and a 200 day moving average of $39.95.

FB Financial (NYSE:FBK) last announced its earnings results on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $123.52 million. Sell-side analysts predict that FB Financial will post 3.25 EPS for the current year.

FB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.41%. FB Financial’s dividend payout ratio is presently 28.57%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its holdings in shares of FB Financial by 85.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,638 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 1,679 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of FB Financial during the first quarter worth $165,000. Renaissance Technologies LLC purchased a new position in FB Financial in the 2nd quarter worth $217,000. ProShare Advisors LLC lifted its position in FB Financial by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 494 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its stake in FB Financial by 17.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 1,067 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

FB Financial Company Profile

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.