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

FB Financial Co. (NYSE:FBK) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 509,900 shares, an increase of 15.3% from the September 30th total of 442,300 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 143,800 shares, the days-to-cover ratio is presently 3.5 days.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction on Monday, October 21st. The shares were purchased at an average price of $48.17 per share, for a total transaction of $96,340.00. Following the completion of the acquisition, the insider now owns 10,894,341 shares in the company, valued at approximately $524,780,405.97. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was acquired at an average price of $48.17 per share, for a total transaction of $96,340.00. Following the purchase, the insider now owns 10,894,341 shares of the company’s stock, valued at approximately $524,780,405.97. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder James W. Ayers acquired 1,500 shares of the stock in a transaction dated Friday, October 18th. The stock was bought at an average cost of $49.58 per share, with a total value of $74,370.00. Following the completion of the purchase, the insider now owns 10,892,341 shares of the company’s stock, valued at approximately $540,042,266.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 9,500 shares of company stock valued at $464,410. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On FB Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its stake in shares of FB Financial by 13.1% in the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock worth $45,172,000 after purchasing an additional 139,395 shares in the last quarter. Dimensional Fund Advisors LP grew its stake 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 buying an additional 106,553 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in FB Financial by 7.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock valued at $10,786,000 after acquiring an additional 15,739 shares during the period. Salzhauer Michael purchased a new stake in shares of FB Financial during the second quarter worth $2,596,000. Finally, Quest Partners LLC bought a new position in shares of FB Financial in the second quarter worth $450,000. 65.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FBK shares. Keefe, Bruyette & Woods lifted their price objective on shares of FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Wednesday. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Hovde Group boosted their target price on FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Stephens reaffirmed an “overweight” rating and set a $45.00 price target on shares of FB Financial in a research report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.80.

FB Financial Stock Up 0.9 %

FBK opened at $50.41 on Thursday. FB Financial has a twelve month low of $28.79 and a twelve month high of $51.63. The company’s 50-day moving average price is $47.23 and its two-hundred day moving average price is $42.38. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 21.18 and a beta of 1.13.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The business had revenue of $169.13 million for the quarter, compared to the consensus estimate of $127.44 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, sell-side analysts anticipate that FB Financial will post 3.34 earnings per share for the current year.

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.35%. The ex-dividend date is Tuesday, November 5th. FB Financial’s dividend payout ratio (DPR) is currently 28.57%.

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.