FB Financial Co. (NYSE:FBK – Get Free Report) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 509,900 shares, an increase of 15.3% from the September 30th total of 442,300 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 143,800 shares, the short-interest ratio is currently 3.5 days.
Insider Buying and Selling
In other news, major shareholder James W. Ayers bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average cost of $48.13 per share, for a total transaction of $96,260.00. Following the purchase, the insider now owns 10,902,341 shares of the company’s stock, valued at approximately $524,729,672.33. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder James W. Ayers bought 1,500 shares of FB Financial stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average price of $49.58 per share, with a total value of $74,370.00. Following the acquisition, the insider now owns 10,892,341 shares of the company’s stock, valued at approximately $540,042,266.78. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction on Friday, October 25th. The stock was bought at an average cost of $48.13 per share, for a total transaction of $96,260.00. Following the completion of the acquisition, the insider now owns 10,902,341 shares in the company, valued at approximately $524,729,672.33. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 9,500 shares of company stock worth $464,410. Insiders own 1.70% of the company’s stock.
Hedge Funds Weigh In On FB Financial
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its stake in shares of FB Financial by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider’s stock valued at $691,000 after purchasing an additional 300 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in FB Financial by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider’s stock worth $1,158,000 after acquiring an additional 398 shares during the last quarter. SummerHaven Investment Management LLC increased its position in FB Financial by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock valued at $1,011,000 after acquiring an additional 412 shares during the period. Victory Capital Management Inc. increased its position in FB Financial by 2.7% in the 2nd quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 467 shares during the period. Finally, Illinois Municipal Retirement Fund raised its stake in shares of FB Financial by 2.4% during the first quarter. Illinois Municipal Retirement Fund now owns 19,904 shares of the financial services provider’s stock valued at $750,000 after acquiring an additional 468 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.
FB Financial Price Performance
FB Financial (NYSE:FBK – Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $169.13 million for the quarter, compared to analyst estimates of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same quarter last year, the company posted $0.71 EPS. Equities analysts expect that FB Financial will post 3.34 EPS for the current year.
FB Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Tuesday, November 5th. FB Financial’s dividend payout ratio is 28.57%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on FBK shares. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. Stephens restated an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a research note on Tuesday, July 16th. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. Keefe, Bruyette & Woods increased 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 report on Wednesday, October 16th. Finally, Hovde Group lifted their price target on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $47.80.
Get Our Latest Stock Analysis on FB Financial
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.
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