Short Interest in FB Financial Co. (NYSE:FBK) Declines By 9.9%

FB Financial Co. (NYSE:FBK) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 459,600 shares, a decrease of 9.9% from the October 15th total of 509,900 shares. Based on an average daily volume of 146,300 shares, the days-to-cover ratio is currently 3.1 days. Currently, 1.3% of the company’s shares are sold short.

Insider Activity

In related news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $48.13 per share, for a total transaction of $96,260.00. Following the acquisition, the insider now owns 10,902,341 shares in the company, valued at approximately $524,729,672.33. This trade represents a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 dated Monday, November 11th. The stock was sold at an average price of $58.22, for a total value of $291,100.00. Following the completion of the sale, the director now directly owns 54,078 shares of the company’s stock, valued at $3,148,421.16. The trade was a 8.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 13,000 shares of company stock valued at $658,460. Company insiders own 1.70% of the company’s stock.

Institutional Trading of FB Financial

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in shares of FB Financial by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock valued at $75,623,000 after buying an additional 106,553 shares during the period. Millennium Management LLC grew its holdings in shares of FB Financial by 259.9% during the second quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock valued at $4,628,000 after purchasing an additional 85,620 shares during the last quarter. Salzhauer Michael acquired a new stake in shares of FB Financial during the 2nd quarter worth approximately $2,596,000. Wasatch Advisors LP lifted its holdings in shares of FB Financial by 4.7% in the 3rd quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider’s stock worth $57,529,000 after purchasing an additional 55,071 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. acquired a new position in FB Financial during the 3rd quarter valued at approximately $1,935,000. Institutional investors own 65.40% of the company’s stock.

FB Financial Trading Down 1.2 %

NYSE FBK traded down $0.65 during trading hours on Tuesday, reaching $54.13. 3,139 shares of the company traded hands, compared to its average volume of 148,062. The company has a 50 day moving average of $48.99 and a two-hundred day moving average of $43.96. The stock has a market capitalization of $2.53 billion, a PE ratio of 23.92 and a beta of 1.12. FB Financial has a 12 month low of $32.09 and a 12 month high of $58.88.

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

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, November 5th. FB Financial’s dividend payout ratio is presently 29.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FBK shares. Keefe, Bruyette & Woods upped their target price on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. Hovde Group lowered shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a report on Monday. Finally, StockNews.com downgraded FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.60.

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.