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

FB Financial Co. (NYSE:FBK) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 459,600 shares, a drop of 9.9% from the October 15th total of 509,900 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 146,300 shares, the short-interest ratio is presently 3.1 days.

Insiders Place Their Bets

In other FB Financial news, Director James W. Iv Cross sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $58.22, for a total transaction of $291,100.00. Following the completion of the transaction, the director now owns 54,078 shares of the company’s stock, valued at approximately $3,148,421.16. This trade represents a 8.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder James W. Ayers bought 500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $51.00 per share, for a total transaction of $25,500.00. Following the acquisition, the insider now owns 10,906,841 shares in the company, valued at approximately $556,248,891. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 13,000 shares of company stock worth $658,460 over the last three months. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On FB Financial

A number of hedge funds have recently bought and sold shares of FBK. Dimensional Fund Advisors LP grew its stake in shares of FB Financial by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after acquiring an additional 106,553 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in FB Financial by 7.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock worth $10,786,000 after purchasing an additional 15,739 shares during the last quarter. Salzhauer Michael bought a new stake in FB Financial in the 2nd quarter worth approximately $2,596,000. Raymond James & Associates raised its stake in FB Financial by 5.0% during the 3rd quarter. Raymond James & Associates now owns 129,545 shares of the financial services provider’s stock valued at $6,080,000 after buying an additional 6,183 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. bought a new position in shares of FB Financial during the 3rd quarter valued at $1,935,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FBK shares. StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods boosted their price target on FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 16th. Finally, Hovde Group lowered FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a research report on Monday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, FB Financial presently has a consensus rating of “Hold” and an average price target of $48.60.

FB Financial Stock Performance

Shares of NYSE FBK opened at $54.78 on Tuesday. The company has a market cap of $2.56 billion, a PE ratio of 23.92 and a beta of 1.12. The firm’s 50 day moving average price is $48.99 and its 200-day moving average price is $43.96. FB Financial has a 52-week low of $32.09 and a 52-week high of $58.88.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $169.13 million for the quarter, compared to analysts’ expectations of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same period in the prior year, the firm posted $0.71 EPS. On average, analysts forecast that FB Financial will post 3.38 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.68 annualized dividend and a dividend yield of 1.24%. FB Financial’s dividend payout ratio (DPR) is presently 29.69%.

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.