FB Financial Co. (NYSE:FBK – Get Free Report) was the recipient of a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 609,900 shares, a decline of 6.7% from the July 31st total of 653,600 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 164,600 shares, the days-to-cover ratio is currently 3.7 days.
Analyst Ratings Changes
A number of analysts have commented on the company. StockNews.com assumed coverage on FB Financial in a research report on Thursday, August 17th. They set a “hold” rating for the company. Raymond James assumed coverage on FB Financial in a research report on Thursday. They set a “market perform” rating for the company. JPMorgan Chase & Co. lifted their price target on FB Financial from $29.00 to $31.00 in a research report on Thursday, June 29th. TheStreet raised FB Financial from a “c+” rating to a “b-” rating in a report on Monday, August 7th. Finally, DA Davidson boosted their price objective on FB Financial from $33.50 to $37.00 in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.29.
FB Financial Stock Performance
Shares of FB Financial stock traded up $0.55 on Friday, hitting $30.93. The company’s stock had a trading volume of 31,670 shares, compared to its average volume of 157,140. FB Financial has a 1 year low of $24.34 and a 1 year high of $44.11. The firm has a fifty day moving average price of $31.52 and a 200-day moving average price of $31.04. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 10.06 and a beta of 1.05.
FB Financial (NYSE:FBK – Get Free Report) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.11. FB Financial had a return on equity of 10.73% and a net margin of 20.44%. The firm had revenue of $125.36 million during the quarter, compared to analyst estimates of $127.44 million. During the same quarter in the previous year, the business earned $0.64 EPS. As a group, analysts forecast that FB Financial will post 2.89 EPS for the current year.
FB Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 14th will be paid a $0.15 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 1.94%. FB Financial’s dividend payout ratio is presently 19.87%.
Insider Buying and Selling
In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were purchased at an average cost of $28.94 per share, for a total transaction of $57,880.00. Following the purchase, the insider now directly owns 10,824,091 shares in the company, valued at $313,249,193.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder James W. Ayers purchased 6,000 shares of the stock in a transaction on Thursday, July 20th. The stock was bought at an average price of $33.10 per share, with a total value of $198,600.00. Following the transaction, the insider now owns 10,830,091 shares in the company, valued at approximately $358,476,012.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction on Thursday, June 15th. The shares were purchased at an average cost of $28.94 per share, with a total value of $57,880.00. Following the transaction, the insider now owns 10,824,091 shares in the company, valued at approximately $313,249,193.54. The disclosure for this purchase can be found here. Insiders have acquired a total of 51,103 shares of company stock worth $1,695,832 in the last ninety days. 1.90% of the stock is owned by insiders.
Institutional Investors Weigh In On FB Financial
Several large investors have recently bought and sold shares of the company. Old North State Trust LLC purchased a new stake in FB Financial during the 2nd quarter worth approximately $227,000. Osaic Holdings Inc. increased its stake in FB Financial by 15.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,969 shares of the financial services provider’s stock worth $83,000 after buying an additional 392 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in FB Financial by 5.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 11,426 shares of the financial services provider’s stock worth $320,000 after buying an additional 617 shares in the last quarter. Wells Fargo & Company MN increased its stake in FB Financial by 32.4% during the 2nd quarter. Wells Fargo & Company MN now owns 198,586 shares of the financial services provider’s stock worth $5,570,000 after buying an additional 48,559 shares in the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in FB Financial during the 2nd quarter worth approximately $271,000. 63.91% of the stock is currently owned by hedge funds and other institutional investors.
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.