FB Financial Co. (NYSE:FBK) Short Interest Up 11.9% in March

FB Financial Co. (NYSE:FBKGet Free Report) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 416,200 shares, an increase of 11.9% from the February 29th total of 372,100 shares. Based on an average daily trading volume, of 125,500 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.2% of the company’s stock are sold short.

Analysts Set New Price Targets

Several brokerages have recently commented on FBK. StockNews.com lowered FB Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Stephens decreased their target price on FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. Finally, Hovde Group lowered FB Financial from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $41.50 to $40.00 in a research report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, FB Financial currently has a consensus rating of “Hold” and an average price target of $36.58.

Get Our Latest Research Report on FB Financial

FB Financial Price Performance

NYSE:FBK traded down $0.67 during midday trading on Tuesday, reaching $36.18. 135,675 shares of the company traded hands, compared to its average volume of 126,879. FB Financial has a twelve month low of $24.34 and a twelve month high of $41.00. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.08 and a beta of 1.15. The company has a fifty day moving average price of $36.38 and a 200 day moving average price of $34.59.

FB Financial (NYSE:FBKGet Free Report) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. FB Financial had a return on equity of 10.10% and a net margin of 16.05%. The company had revenue of $116.43 million during the quarter, compared to analyst estimates of $121.58 million. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, equities research analysts forecast that FB Financial will post 2.84 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Monday, February 12th. This is a positive change from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s payout ratio is 26.46%.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were bought at an average cost of $35.29 per share, for a total transaction of $70,580.00. Following the acquisition, the insider now directly owns 10,877,841 shares of the company’s stock, valued at $383,879,008.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other FB Financial news, major shareholder James W. Ayers acquired 3,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were bought at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the acquisition, the insider now directly owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was purchased at an average price of $35.29 per share, with a total value of $70,580.00. Following the transaction, the insider now owns 10,877,841 shares in the company, valued at approximately $383,879,008.89. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 9,000 shares of company stock worth $327,410. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FBK. T. Rowe Price Investment Management Inc. raised its stake in shares of FB Financial by 7.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,690 shares of the financial services provider’s stock worth $186,833,000 after buying an additional 348,790 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of FB Financial in the 1st quarter worth $13,000,000. Heartland Advisors Inc. bought a new stake in shares of FB Financial in the 4th quarter worth $11,237,000. Wasatch Advisors Inc. raised its stake in shares of FB Financial by 17.7% in the 1st quarter. Wasatch Advisors Inc. now owns 1,579,663 shares of the financial services provider’s stock worth $70,169,000 after buying an additional 237,256 shares in the last quarter. Finally, Wasatch Advisors LP raised its stake in shares of FB Financial by 26.3% in the 4th quarter. Wasatch Advisors LP now owns 1,060,062 shares of the financial services provider’s stock worth $42,243,000 after buying an additional 220,835 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

About FB Financial

(Get Free Report)

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.

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