FB Financial Co. (NYSE:FBK) Short Interest Up 11.9% in March

FB Financial Co. (NYSE:FBKGet Free Report) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 416,200 shares, an increase of 11.9% from the February 29th total of 372,100 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily volume of 125,500 shares, the short-interest ratio is presently 3.3 days.

Insider Activity

In other news, major shareholder James W. Ayers acquired 2,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was purchased at an average price of $38.20 per share, for a total transaction of $76,400.00. Following the completion of the transaction, the insider now directly owns 10,881,841 shares in the company, valued at approximately $415,686,326.20. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other FB Financial news, major shareholder James W. Ayers purchased 3,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $35.91 per share, with a total value of $107,730.00. Following the acquisition, the insider now owns 10,884,841 shares in the company, valued at $390,874,640.31. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was purchased at an average cost of $38.20 per share, with a total value of $76,400.00. Following the purchase, the insider now owns 10,881,841 shares of the company’s stock, valued at $415,686,326.20. The disclosure for this purchase can be found here. Insiders bought a total of 9,000 shares of company stock worth $327,410 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Several institutional investors and hedge funds have recently bought and sold shares of FBK. Tower Research Capital LLC TRC grew its holdings in FB Financial by 570.5% in the first quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 833 shares during the last quarter. Lazard Asset Management LLC purchased a new position in FB Financial in the third quarter worth $31,000. GAMMA Investing LLC purchased a new position in FB Financial in the fourth quarter worth $43,000. Point72 Middle East FZE grew its holdings in FB Financial by 111.6% in the second quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 876 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in FB Financial in the third quarter worth $71,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Stock Down 1.8 %

Shares of FBK stock opened at $36.18 on Wednesday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 14.08 and a beta of 1.15. The company’s 50 day moving average is $36.38 and its 200 day moving average is $34.59. FB Financial has a 52-week low of $24.34 and a 52-week high of $41.00.

FB Financial (NYSE:FBKGet Free Report) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.06. The company had revenue of $116.43 million for the quarter, compared to analyst estimates of $121.58 million. FB Financial had a net margin of 16.05% and a return on equity of 10.10%. During the same period last year, the company posted $0.85 earnings per share. Analysts anticipate that FB Financial will post 2.84 EPS for the current fiscal year.

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.88%. This is a positive change from FB Financial’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 12th. FB Financial’s dividend payout ratio (DPR) is presently 26.46%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Hovde Group downgraded shares of FB Financial from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $41.50 to $40.00 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 research note on Thursday, March 21st. Finally, Stephens decreased their price target on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued 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 $36.58.

Check Out Our Latest Stock Report on FB Financial

FB Financial Company Profile

(Get Free Report)

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.

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