Why FB Financial Shares Are Rising Today
Portfolio Pulse from Lekha Gupta
FB Financial Corp (NYSE:FBK) reported Q2 core revenue of $125.7 million, missing the consensus of $128.3 million. However, adjusted EPS stood at $0.77, beating the consensus of $0.65. The company's net interest margin decreased due to lower loan balances, and non-interest income also decreased due to higher interest rates. Despite these challenges, the company's deposits and loans held for investment increased compared to the prior year. FBK shares are trading higher by 9.4% in premarket trading.
July 18, 2023 | 11:42 am
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FB Financial Corp reported mixed Q2 results with a revenue miss but an EPS beat. Despite some financial challenges, the company's deposits and loans held for investment increased. The stock is up 9.4% in premarket trading.
FB Financial Corp's Q2 results were mixed, with a revenue miss but an EPS beat. Despite lower net interest margin and non-interest income, the company's deposits and loans held for investment increased. This suggests that the company is managing its finances well despite the challenges, which is likely contributing to the positive investor sentiment reflected in the premarket trading increase.
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