Short Interest in FB Financial Corporation (NYSE:FBK) Increases By 40.5%

Key Points

• Short interest in FB Financial Corporation (NYSE:FBK) surged by 40.5% in August, reaching a total of 1,360,000 shares.
• Institutional investors collectively own 65.40% of FB Financial, with notable investments made by State Street Corp and Nuveen LLC in recent quarters.
• The stock currently has a consensus rating of "Buy", with a price target set at $58.25 as determined by multiple analyst reports.

FB Financial Corporation (NYSE:FBK - Get Free Report) saw a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 1,360,000 shares, agrowthof40.5% from the July 31st total of 968,000 shares. Based on an average daily trading volume, of 394,100 shares, the short-interest ratio is currently 3.5 days. Currently,3.4% of the company's shares are sold short. Currently,3.4% of the company's shares are sold short. Based on an average daily trading volume, of 394,100 shares, the short-interest ratio is currently 3.5 days.

Institutional Investors Weigh In On FB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of FB Financial by 4.9% in the 2nd quarter. State Street Corp now owns 1,621,116 shares of the financial services provider's stock valued at $73,437,000 after purchasing an additional 75,951 shares during the period. Nuveen LLC acquired a new position in shares of FB Financial during the 1st quarter worth approximately $39,275,000. Northern Trust Corp grew its position in shares of FB Financial by 15.3% during the 4th quarter. Northern Trust Corp now owns 424,882 shares of the financial services provider's stock worth $21,886,000 after purchasing an additional 56,474 shares in the last quarter. Millennium Management LLC boosted its position in shares of FB Financial by 11.8% during the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider's stock worth $16,419,000 after acquiring an additional 37,385 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of FB Financial by 1.1% during the 2nd quarter. Federated Hermes Inc. now owns 344,169 shares of the financial services provider's stock worth $15,591,000 after acquiring an additional 3,717 shares in the last quarter. 65.40% of the stock is owned by institutional investors.

FB Financial Stock Performance

NYSE FBK traded up $0.04 on Monday, reaching $53.68. The company had a trading volume of 240,601 shares, compared to its average volume of 346,187. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 27.82 and a beta of 0.93. FB Financial has a 1-year low of $38.83 and a 1-year high of $58.88. The company's fifty day moving average is $49.78 and its 200-day moving average is $46.36.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings results on Monday, July 14th. The financial services provider reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). FB Financial had a return on equity of 10.15% and a net margin of 11.46%.The business had revenue of $76.86 million for the quarter, compared to the consensus estimate of $136.32 million. On average, research analysts forecast that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.76 annualized dividend and a yield of 1.4%. FB Financial's payout ratio is 39.38%.

Wall Street Analyst Weigh In

FBK has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised shares of FB Financial from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $52.00 to $58.00 in a report on Friday, July 11th. Wall Street Zen lowered shares of FB Financial from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $58.25.

FB Financial Company Profile

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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