FB Financial Corporation (NYSE:FBK) Short Interest Update

Key Points

• FB Financial Corporation experienced a 47.0% increase in short interest in September, with a total of 1,690,000 shares shorted, equating to 4.2% of its total shares.
• The company recently declared a quarterly dividend of $0.19 per share, reflecting an annualized dividend of $0.76 and a dividend yield of 1.4%.
• Five analysts have rated FB Financial with a Buy rating, while it holds an average target price of $60.80, indicating positive outlook for the stock.

FB Financial Corporation (NYSE:FBK - Get Free Report) saw a significant increase in short interest in September. As of September 30th, there was short interest totaling 1,690,000 shares, an increase of 47.0% from the September 15th total of 1,150,000 shares. Currently, 4.2% of the shares of the stock are sold short. Based on an average daily volume of 453,600 shares, the days-to-cover ratio is currently 3.7 days. Based on an average daily volume of 453,600 shares, the days-to-cover ratio is currently 3.7 days. Currently, 4.2% of the shares of the stock are sold short.

FB Financial Trading Up 0.5%

NYSE:FBK opened at $54.56 on Thursday. FB Financial has a 1 year low of $38.83 and a 1 year 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 stock has a 50-day moving average price of $54.24 and a two-hundred day moving average price of $48.15.

FB Financial (NYSE:FBK - Get Free Report) last posted its earnings results 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 firm had revenue of $163.71 million during the quarter. Sell-side analysts forecast that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 12th. FB Financial's dividend payout ratio is currently 35.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its position 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 buying an additional 75,951 shares during the period. Deprince Race & Zollo Inc. acquired a new position in shares of FB Financial during the third quarter worth about $48,674,000. Nuveen LLC acquired a new position in shares of FB Financial during the first quarter worth about $39,275,000. Millennium Management LLC boosted its position 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 buying an additional 37,385 shares during the period. Finally, Federated Hermes Inc. boosted its position 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 buying an additional 3,717 shares during the period. 65.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Piper Sandler upped their price objective on FB Financial from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, October 16th. Weiss Ratings reiterated a "hold (c)" rating on shares of FB Financial in a report on Wednesday, October 8th. Wall Street Zen upgraded FB Financial from a "sell" rating to a "hold" rating in a report on Saturday, October 18th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $66.00 price objective (up previously from $61.00) on shares of FB Financial in a report on Thursday, October 16th. Finally, Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $52.00 to $58.00 in a report on Friday, July 11th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, FB Financial currently has an average rating of "Moderate Buy" and an average target price of $60.80.

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.

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