FB Financial Co. (NYSE:FBK) Short Interest Up 6.6% in August

FB Financial Co. (NYSE:FBK) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 501,100 shares, an increase of 6.6% from the August 15th total of 470,100 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 173,900 shares, the days-to-cover ratio is currently 2.9 days.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FBK. Stephens restated an “overweight” rating and issued a $45.00 price objective on shares of FB Financial in a report on Tuesday, July 16th. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their price objective on FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. decreased their target price on FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.33.

Institutional Investors Weigh In On FB Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its position in shares of FB Financial by 85.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,638 shares of the financial services provider’s stock worth $145,000 after buying an additional 1,679 shares during the last quarter. SG Americas Securities LLC acquired a new stake in FB Financial in the 1st quarter worth approximately $165,000. Renaissance Technologies LLC bought a new stake in FB Financial during the second quarter worth approximately $217,000. ProShare Advisors LLC grew its stake in FB Financial by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock valued at $269,000 after buying an additional 494 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in shares of FB Financial by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 1,067 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Trading Up 1.7 %

NYSE FBK traded up $0.78 on Tuesday, reaching $47.79. The stock had a trading volume of 31,184 shares, compared to its average volume of 144,302. FB Financial has a 1 year low of $27.42 and a 1 year high of $48.80. The business has a 50 day moving average price of $45.17 and a 200 day moving average price of $39.81. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 20.31 and a beta of 1.13.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $128.22 million during the quarter, compared to analysts’ expectations of $123.52 million. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. On average, analysts anticipate that FB Financial will post 3.25 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.42%. FB Financial’s dividend payout ratio is currently 28.57%.

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.