FB Financial Corp (NYSE:FBK) on Tuesday posted mixed results for the third quarter.
The company reported quarterly earnings of $1.21 per share which beat the analyst consensus estimate of $1.20 per share. The company reported quarterly sales of $174.486 million which missed the analyst consensus estimate of $181.632 million.
President and Chief Executive Officer, Christopher T. Holmes said, “Our results reflect continued organic growth momentum and solid profitability metrics. Annualized loan growth (HFI) was 9.68% for the quarter, annualized client deposit growth was 11.0%, and annualized total deposit growth was 8.82% when we net out the decline in brokered deposits. We are encouraged by the quality of opportunities in front of us and the pipelines we see across the Company. In addition, our recent $125.0 million subordinated debt issuance provides added flexibility to support future growth. We remain focused on providing value to clients and creating long-term value for our shareholders.”
FB Financial shares fell 0.4% to trade at $50.54 on Wednesday.
These analysts made changes to their price targets on FB Financial following earnings announcement.
- StoneX analyst Brett Rabatin maintained the stock with a Buy and lowered the price target from $67 to $61.
- Keefe, Bruyette & Woods analyst Catherine Mealor maintained the stock with an Outperform rating and cut the price target from $65 to $64.
Considering buying FBK stock? Here’s what analysts think:
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