FB Financial Co. (NYSE:FBK - Get Free Report) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 546,800 shares, an increase of 19.0% from the October 31st total of 459,600 shares. Currently, 1.6% of the company's shares are sold short. Based on an average trading volume of 151,700 shares, the short-interest ratio is presently 3.6 days.
Several research firms have weighed in on FBK. StockNews.com lowered shares of FB Financial from a "hold" rating to a "sell" rating in a report on Friday, November 8th. Keefe, Bruyette & Woods upped their target price on shares of FB Financial from $48.00 to $50.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 16th. Finally, Hovde Group cut FB Financial from an "outperform" rating to a "market perform" rating and set a $60.00 target price on the stock. in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, FB Financial has an average rating of "Hold" and an average target price of $48.60.
Get Our Latest Stock Analysis on FB Financial
In other FB Financial news, major shareholder James W. Ayers acquired 1,000 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average cost of $57.15 per share, for a total transaction of $57,150.00. Following the completion of the acquisition, the insider now directly owns 10,909,841 shares of the company's stock, valued at approximately $623,497,413.15. This represents a 0.01 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James W. Iv Cross sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $58.22, for a total value of $291,100.00. Following the completion of the transaction, the director now directly owns 54,078 shares in the company, valued at approximately $3,148,421.16. This trade represents a 8.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 13,000 shares of company stock worth $658,460 over the last 90 days. Insiders own 1.70% of the company's stock.
A number of hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new stake in shares of FB Financial during the third quarter worth approximately $47,000. nVerses Capital LLC acquired a new position in shares of FB Financial in the third quarter valued at about $84,000. Point72 DIFC Ltd bought a new position in FB Financial during the third quarter worth about $110,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in FB Financial in the 3rd quarter worth about $124,000. Finally, Raymond James Trust N.A. bought a new stake in FB Financial in the 3rd quarter valued at about $201,000. Institutional investors and hedge funds own 65.40% of the company's stock.
FBK stock opened at $56.45 on Friday. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 24.65 and a beta of 1.12. FB Financial has a twelve month low of $32.82 and a twelve month high of $58.88. The business has a 50 day moving average price of $50.65 and a two-hundred day moving average price of $45.01.
FB Financial (NYSE:FBK - Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The company had revenue of $169.13 million for the quarter, compared to analysts' expectations of $127.44 million. During the same period in the prior year, the firm earned $0.71 EPS. On average, equities research analysts anticipate that FB Financial will post 3.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. FB Financial's dividend payout ratio (DPR) is 29.69%.
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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