Short Interest in FB Financial Co. (NYSE:FBK) Increases By 5.1%

FB Financial Co. (NYSE:FBK) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 574,700 shares, an increase of 5.1% from the November 15th total of 546,800 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average trading volume of 150,400 shares, the short-interest ratio is currently 3.8 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FBK shares. Hovde Group lowered shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a research report on Monday, November 18th. Keefe, Bruyette & Woods upped their price objective on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.20.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $57.15 per share, for a total transaction of $57,150.00. Following the completion of the acquisition, the insider now owns 10,909,841 shares of the company’s stock, valued at approximately $623,497,413.15. This trade represents a 0.01 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James W. Iv Cross sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $58.22, for a total transaction of $291,100.00. Following the completion of the sale, the director now owns 54,078 shares of the company’s stock, valued at $3,148,421.16. This represents a 8.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased a total of 13,000 shares of company stock worth $658,460 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of FB Financial

Several hedge funds have recently modified their holdings of FBK. Point72 Asset Management L.P. bought a new stake in shares of FB Financial during the third quarter valued at approximately $47,000. nVerses Capital LLC bought a new stake in shares of FB Financial during the third quarter valued at approximately $84,000. Point72 DIFC Ltd bought a new stake in shares of FB Financial during the third quarter valued at approximately $110,000. Point72 Asia Singapore Pte. Ltd. bought a new position in FB Financial in the third quarter valued at approximately $124,000. Finally, Raymond James Trust N.A. bought a new position in FB Financial in the third quarter valued at approximately $201,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Trading Down 2.2 %

NYSE:FBK traded down $1.21 during mid-day trading on Tuesday, hitting $54.80. The company’s stock had a trading volume of 230,607 shares, compared to its average volume of 146,898. FB Financial has a fifty-two week low of $33.35 and a fifty-two week high of $58.88. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 24.46 and a beta of 1.15. The stock has a fifty day moving average of $52.85 and a 200-day moving average of $46.46.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $169.13 million during the quarter, compared to analyst estimates of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same quarter last year, the business posted $0.71 earnings per share. On average, equities analysts anticipate that FB Financial will post 3.38 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Tuesday, November 5th. FB Financial’s payout ratio is 29.69%.

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.