Overview
FB Financial Q3 revenue and adjusted EPS beat analyst expectations
Company's merger with Southern States boosted loans and deposits significantly
Net interest margin improved to 3.95% from 3.68% in prior quarter
Outlook
Company expects to build on current momentum into the fourth quarter
FB Financial aims for aggressive growth and profitability goals
Company anticipates full benefits from debt redemption in Q4
Result Drivers
MERGER IMPACT - Significant increases in loans and deposits due to merger with Southern States Bancshares
MARGIN IMPROVEMENT - NIM increased to 3.95% driven by strategic actions including balance sheet optimization and debt redemption
EFFICIENCY GAINS - Core efficiency ratio improved despite higher expenses from merger-related costs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $173.87 mln | $167.89 mln (5 Analysts) |
Q3 Adjusted EPS | Beat | $1.07 | $0.95 (6 Analysts) |
Q3 EPS | $0.43 | ||
Q3 Adjusted Net Income | Beat | $57.60 mln | $53.73 mln (3 Analysts) |
Q3 Net Income | $23.37 mln | ||
Q3 Net Interest Income | $147.24 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for FB Financial Corp is $61.50, about 8.4% above its October 13 closing price of $56.31
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nBwTM6dWa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)