FB Financial Co. (NYSE:FBK) Short Interest Down 14.3% in September

FB Financial Co. (NYSE:FBK) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 442,300 shares, a decrease of 14.3% from the September 15th total of 516,100 shares. Based on an average trading volume of 165,900 shares, the days-to-cover ratio is presently 2.7 days. Approximately 1.3% of the company’s shares are sold short.

Wall Street Analyst Weigh In

FBK has been the topic of several research reports. Stephens reissued an “overweight” rating and set a $45.00 target price on shares of FB Financial in a research note on Tuesday, July 16th. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods boosted 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, JPMorgan Chase & Co. lowered their price objective on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a research report on Thursday, June 27th. 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.33.

FB Financial Stock Up 0.8 %

FBK traded up $0.39 on Monday, reaching $47.92. The company’s stock had a trading volume of 125,665 shares, compared to its average volume of 144,556. FB Financial has a fifty-two week low of $27.61 and a fifty-two week high of $49.97. The stock has a 50 day moving average of $45.82 and a two-hundred day moving average of $41.24. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 19.97 and a beta of 1.13.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Monday, July 15th. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $128.22 million during the quarter, compared to analysts’ expectations of $123.52 million. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. As a group, analysts anticipate that FB Financial will post 3.25 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were given a $0.17 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.42%. FB Financial’s dividend payout ratio (DPR) is presently 28.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Creative Planning boosted its holdings in shares of FB Financial by 4.6% in the third quarter. Creative Planning now owns 26,308 shares of the financial services provider’s stock valued at $1,235,000 after acquiring an additional 1,149 shares during the period. SG Americas Securities LLC acquired a new stake in FB Financial during the 3rd quarter worth $667,000. Algert Global LLC grew its position in FB Financial by 32.5% during the 2nd quarter. Algert Global LLC now owns 15,421 shares of the financial services provider’s stock worth $602,000 after purchasing an additional 3,781 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in FB Financial by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 17,967 shares of the financial services provider’s stock valued at $701,000 after purchasing an additional 743 shares during the period. Finally, Millennium Management LLC increased its stake in FB Financial by 259.9% in the second 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. Hedge funds and other institutional investors own 65.40% of the company’s stock.

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.