FB Financial Corporation (NYSE:FBK) Short Interest Up 40.5% in August

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) was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totaling 1,360,000 shares, an increase of 40.5% from the July 31st total of 968,000 shares. Based on an average daily volume of 394,100 shares, the short-interest ratio is presently 3.5 days. Currently, 3.4% of the shares of the company are sold short. Currently, 3.4% of the shares of the company are sold short. Based on an average daily volume of 394,100 shares, the short-interest ratio is presently 3.5 days.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FBK shares. Keefe, Bruyette & Woods upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Wall Street Zen cut shares of FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Cantor Fitzgerald began coverage on shares of FB Financial in a research note on Wednesday. They issued an "overweight" rating and a $61.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $58.80.

Institutional Investors Weigh In On FB Financial

A number of large investors have recently modified their holdings of the business. Avantax Advisory Services Inc. grew its holdings in shares of FB Financial by 0.7% during the first quarter. Avantax Advisory Services Inc. now owns 34,705 shares of the financial services provider's stock worth $1,609,000 after buying an additional 253 shares in the last quarter. TBH Global Asset Management LLC grew its holdings in shares of FB Financial by 5.3% during the first quarter. TBH Global Asset Management LLC now owns 5,790 shares of the financial services provider's stock worth $268,000 after buying an additional 290 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of FB Financial by 7.1% during the first quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider's stock worth $202,000 after buying an additional 290 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of FB Financial by 36.7% during the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock worth $64,000 after buying an additional 370 shares in the last quarter. Finally, Albert D Mason Inc. grew its holdings in shares of FB Financial by 1.7% during the first quarter. Albert D Mason Inc. now owns 23,872 shares of the financial services provider's stock worth $1,107,000 after buying an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company's stock.

FB Financial Trading Down 0.4%

NYSE:FBK traded down $0.20 during trading hours on Friday, reaching $53.04. 182,689 shares of the company were exchanged, compared to its average volume of 305,851. The stock's 50-day moving average is $50.25 and its 200-day moving average is $46.51. The firm has a market cap of $2.86 billion, a PE ratio of 27.48 and a beta of 0.93. FB Financial has a twelve month low of $38.83 and a twelve month high of $58.88.

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

FB Financial Announces Dividend

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

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.