Financial

FB Financial Co. (NYSE:FBK) Short Interest Update

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FB Financial logoFB Financial Co. (NYSE:FBK) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 557,600 shares, an increase of 31.2% from the January 15th total of 425,100 shares. Based on an average trading volume of 138,100 shares, the days-to-cover ratio is currently 4.0 days. Approximately 1.6% of the company’s shares are short sold.

A number of research firms have recently weighed in on FBK. Zacks Investment Research downgraded FB Financial from a “buy” rating to a “hold” rating in a research report on Friday, January 21st. Stephens lifted their price objective on FB Financial from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 19th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $49.40.

Several hedge funds have recently bought and sold shares of FBK. First Trust Advisors LP boosted its position in shares of FB Financial by 87.7% during the first quarter. First Trust Advisors LP now owns 72,245 shares of the financial services provider’s stock worth $2,295,000 after buying an additional 33,763 shares during the period. Deutsche Bank AG raised its holdings in FB Financial by 7.6% during the second quarter. Deutsche Bank AG now owns 23,359 shares of the financial services provider’s stock worth $872,000 after acquiring an additional 1,645 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in FB Financial by 5.9% during the second quarter. The Manufacturers Life Insurance Company now owns 18,525 shares of the financial services provider’s stock worth $691,000 after acquiring an additional 1,026 shares in the last quarter. Vanguard Group Inc. raised its holdings in FB Financial by 8.6% during the second quarter. Vanguard Group Inc. now owns 2,230,045 shares of the financial services provider’s stock worth $83,225,000 after acquiring an additional 176,926 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in FB Financial by 9.3% during the second quarter. Geode Capital Management LLC now owns 558,455 shares of the financial services provider’s stock worth $20,841,000 after acquiring an additional 47,335 shares in the last quarter. 64.99% of the stock is owned by institutional investors.

Shares of FB Financial stock opened at $44.58 on Friday. FB Financial has a 12 month low of $34.99 and a 12 month high of $49.62. The business has a fifty day simple moving average of $44.39 and a 200 day simple moving average of $43.37. The stock has a market cap of $2.13 billion, a PE ratio of 11.26 and a beta of 1.10.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, January 18th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. The firm had revenue of $142.97 million during the quarter, compared to analysts’ expectations of $139.41 million. FB Financial had a return on equity of 13.04% and a net margin of 31.03%. During the same period in the previous year, the firm earned $1.14 earnings per share. As a group, research analysts predict that FB Financial will post 3.18 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 22nd. Stockholders of record on Tuesday, February 8th will be given a dividend of $0.13 per share. This is a boost from FB Financial’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Monday, February 7th. FB Financial’s dividend payout ratio is currently 13.13%.

About FB Financial

FB Financial Corp. is a bank holding company, which provides commercial and consumer banking services to clients in select markets primarily in Tennessee, North Alabama, and North Georgia through its subsidiary. It operates through the Banking and Mortgage segments. The Banking segments deals with interest on loans and investments, loan-related fees, originations in banking footprint, investment services, and deposit-related fees.

Further Reading

Shares of FB Financial stock opened at $44.58 on Friday. FB Financial has a 12 month low of $34.99 and a 12 month high of $49.62. The business has a fifty day simple moving average of $44.39 and a 200 day simple moving average of $43.37. The stock has a market cap of $2.13 billion, a PE ratio of 11.26 and a beta of 1.10.

Source: https://etfdailynews.com/news/fb-financial-co-nysefbk-short-interest-update/

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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