FB Financial Corporation (NYSE:FBK) Short Interest Update

FB Financial Corporation (NYSE:FBK) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 1,690,000 shares, a growth of 47.0% from the September 15th total of 1,150,000 shares. Based on an average daily volume of 453,600 shares, the short-interest ratio is presently 3.7 days. Currently, 4.2% of the company’s stock are sold short. Currently, 4.2% of the company’s stock are sold short. Based on an average daily volume of 453,600 shares, the short-interest ratio is presently 3.7 days.

Hedge Funds Weigh In On FB Financial

A number of large investors have recently made changes to their positions in the company. State Street Corp increased its stake in shares of FB Financial by 4.9% during the second quarter. State Street Corp now owns 1,621,116 shares of the financial services provider’s stock worth $73,437,000 after purchasing an additional 75,951 shares during the period. Deprince Race & Zollo Inc. bought a new position in shares of FB Financial during the third quarter worth approximately $48,674,000. Nuveen LLC bought a new position in shares of FB Financial during the first quarter worth approximately $39,275,000. Millennium Management LLC increased its stake in shares of FB Financial by 11.8% during the first quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock worth $16,419,000 after purchasing an additional 37,385 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of FB Financial by 1.1% during the second quarter. Federated Hermes Inc. now owns 344,169 shares of the financial services provider’s stock worth $15,591,000 after purchasing an additional 3,717 shares during the period. Institutional investors own 65.40% of the company’s stock.

FB Financial Stock Up 0.5%

FBK opened at $54.56 on Thursday. FB Financial has a 12-month low of $38.83 and a 12-month high of $60.51. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 25.49 and a beta of 0.91. The business has a 50 day moving average of $54.24 and a 200-day moving average of $48.15.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, February 15th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter. FB Financial had a return on equity of 10.56% and a net margin of 11.73%.The company had revenue of $163.71 million during the quarter. As a group, analysts expect that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.4%. FB Financial’s dividend payout ratio (DPR) is 35.51%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FBK. Keefe, Bruyette & Woods raised FB Financial from a “market perform” rating to an “outperform” rating and increased their price target for the company from $52.00 to $58.00 in a research report on Friday, July 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $66.00 price target (up from $61.00) on shares of FB Financial in a research report on Thursday, October 16th. Wall Street Zen raised FB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a research report on Wednesday, October 8th. Finally, Piper Sandler increased their price target on FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, FB Financial has a consensus rating of “Moderate Buy” and an average target price of $60.80.

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.