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

FB Financial Co. (NYSE:FBK) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 383,300 shares, a decrease of 7.9% from the March 15th total of 416,200 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily volume of 125,900 shares, the short-interest ratio is currently 3.0 days.

FB Financial Stock Performance

NYSE FBK traded up $1.56 during mid-day trading on Tuesday, reaching $36.19. 493,764 shares of the stock were exchanged, compared to its average volume of 132,359. The business’s fifty day simple moving average is $35.96 and its 200 day simple moving average is $35.11. The stock has a market capitalization of $1.70 billion, a PE ratio of 14.08 and a beta of 1.15. FB Financial has a 1-year low of $24.34 and a 1-year high of $41.00.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.06. FB Financial had a return on equity of 10.10% and a net margin of 16.05%. The firm had revenue of $116.43 million for the quarter, compared to the consensus estimate of $121.58 million. During the same period in the prior year, the business posted $0.85 earnings per share. On average, analysts anticipate that FB Financial will post 2.84 EPS for the current year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, February 12th. This is a boost from FB Financial’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.88%. FB Financial’s dividend payout ratio (DPR) is currently 26.46%.

Insider Buying and Selling at FB Financial

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

Hedge Funds Weigh In On FB Financial

A number of large investors have recently bought and sold shares of the stock. Citadel Advisors LLC increased its stake in FB Financial by 0.7% during the 2nd quarter. Citadel Advisors LLC now owns 35,129 shares of the financial services provider’s stock worth $1,378,000 after buying an additional 249 shares during the period. SummerHaven Investment Management LLC grew its stake in FB Financial by 1.1% during the 4th quarter. SummerHaven Investment Management LLC now owns 25,229 shares of the financial services provider’s stock valued at $1,005,000 after purchasing an additional 278 shares in the last quarter. American International Group Inc. increased its holdings in FB Financial by 1.6% during the 2nd quarter. American International Group Inc. now owns 19,580 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 314 shares during the last quarter. Mariner LLC raised its position in shares of FB Financial by 1.6% in the 3rd quarter. Mariner LLC now owns 20,087 shares of the financial services provider’s stock valued at $570,000 after purchasing an additional 323 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its stake in shares of FB Financial by 15.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,969 shares of the financial services provider’s stock valued at $83,000 after buying an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on FBK shares. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $38.00 to $41.00 in a research report on Tuesday. Stephens lowered their price objective on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 17th. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Finally, Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $40.00 to $40.50 in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $37.67.

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.