FB Financial Corporation (NYSE:FBK) Short Interest Update

FB Financial Corporation (NYSE:FBK) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 1,360,000 shares, an increase of 40.5% from the July 31st total of 968,000 shares. Based on an average trading volume of 394,100 shares, the short-interest ratio is presently 3.5 days. Approximately 3.4% of the shares of the company are short sold. Approximately 3.4% of the shares of the company are short sold. Based on an average trading volume of 394,100 shares, the short-interest ratio is presently 3.5 days.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen downgraded FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods raised FB Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $52.00 to $58.00 in a report on Friday, July 11th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, FB Financial has a consensus rating of “Buy” and an average target price of $58.25.

FB Financial Stock Performance

FB Financial stock opened at $52.89 on Wednesday. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 27.40 and a beta of 0.93. FB Financial has a 1 year low of $38.83 and a 1 year high of $58.88. The firm’s 50 day moving average price is $49.90 and its two-hundred day moving average price is $46.41.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Monday, July 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01). The business had revenue of $76.86 million during the quarter, compared to analyst estimates of $136.32 million. FB Financial had a return on equity of 10.15% and a net margin of 11.46%. As a group, equities analysts predict that FB Financial will post 3.64 EPS for the current fiscal year.

FB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were given a $0.19 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.76 annualized dividend and a yield of 1.4%. FB Financial’s payout ratio is 39.38%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FBK. GAMMA Investing LLC grew its position in FB Financial by 6,237.7% during the 1st quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider’s stock worth $2,962,000 after purchasing an additional 62,876 shares in the last quarter. Envestnet Asset Management Inc. grew its position in FB Financial by 2.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 192,496 shares of the financial services provider’s stock worth $8,924,000 after purchasing an additional 3,779 shares in the last quarter. Ameriprise Financial Inc. grew its position in FB Financial by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider’s stock worth $14,136,000 after purchasing an additional 3,492 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in FB Financial by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,219 shares of the financial services provider’s stock worth $1,041,000 after purchasing an additional 790 shares in the last quarter. Finally, Millennium Management LLC grew its position in FB Financial by 17.8% during the 4th quarter. Millennium Management LLC now owns 316,771 shares of the financial services provider’s stock worth $16,317,000 after purchasing an additional 47,761 shares in the last quarter. Institutional investors and hedge funds 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.