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Investing.com - Keefe, Bruyette & Woods maintained its Outperform rating and $58.00 price target on FB Financial (NYSE:FBK) stock following the company’s quarterly performance.
FB Financial delivered a $0.06 pre-provision net revenue (PPNR) beat, driven by higher net interest income from margin improvement and reduced expenses, according to the research firm.
The bank demonstrated strong loan growth with 9% average and 4% end-of-period increases during the quarter, positioning it for continued momentum.
FB Financial also restructured $266 million in bonds, an action that Keefe, Bruyette & Woods expects will further enhance the bank’s net interest margin in the upcoming quarter.
The research firm noted FB Financial currently trades at 1.7 times tangible book value and 11 times estimated 2026 earnings per share, factors supporting its continued Outperform rating. According to InvestingPro, the stock has shown strong returns over both one month and three months, with additional insights available through their comprehensive Pro Research Report.
In other recent news, FB Financial Corporation reported second-quarter results that fell short of analyst expectations in terms of revenue. The company announced adjusted earnings of $0.88 per share, aligning with projections, but revenue was significantly lower at $76.86 million compared to the anticipated $136.37 million. Despite this, FB Financial experienced loan growth and an improved net interest margin. The company also completed its merger with Southern States Bancshares, which added approximately $2.87 billion in total assets. This merger is expected to have its system conversions completed in the third quarter. FB Financial’s GAAP earnings were affected by a $60.5 million loss from selling low-yielding securities, which the company plans to use to redeem debt and originate higher-yielding loans. Total (EPA:TTEF) deposits increased by 8.94% year-over-year to $11.40 billion, while loans held for investment grew to $9.87 billion. The company’s net interest margin improved to 3.68%, and the core efficiency ratio saw a positive change, improving to 56.9%.
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