FB Financial Q2 revenue, profit miss estimates despite double-digit loan growth
FBK•Analyst coverage
The current average analyst rating on the shares is "buy," with 8 "strong buy" or "buy" recommendations, no "hold" ratings, and no "sell" or "strong sell" ratings.
The average consensus recommendation for the banks peer group is "buy." Wall Street's median 12-month price target for FB Financial Corp is $64.50, about 13.8% above its July 10 closing price of $56.68. The stock recently traded at 12 times the next 12-month earnings versus a P/E of 11 three months ago.
Share repurchases and outlook
FB Financial repurchased 3.01% of common shares outstanding in the second quarter.
The company said it is well positioned for continued growth and profitability in the second half and expects its balance sheet to support ongoing growth and profitability.
Q2 results miss revenue and profit estimates
FB Financial said second-quarter revenue and adjusted earnings per share missed analyst expectations.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Miss | $174.75 mln | $177.99 mln (7 Analysts) |
| Q2 Adjusted EPS | Miss | $1.14 | $1.15 (8 Analysts) |
| Q2 EPS | $1.13 | ||
| Q2 Adjusted Net Income | Miss | $58.91 mln | $60.40 mln (7 Analysts) |
| Q2 Net Income | $58.65 mln | ||
| Q2 Net Interest Income | $148.97 mln |
