FB Financial Stock Sinks After-Hours Following Q3 Earnings: Here's What To Know
Portfolio Pulse from Ryan Gustafson
FB Financial Corp (NYSE:FBK) reported Q3 earnings of 71 cents per share, beating the analyst consensus estimate of 69 cents. However, the company's quarterly sales of $108.97 million missed the analyst consensus estimate of $122.89 million. FB Financial's deposits were $10.64 billion as of Sept. 30, compared to $10.87 billion as of June 30. The company sold $76.6 million of available-for-sale securities and reinvested the proceeds into higher-yielding securities. Shares of FBK were down 4.61% at $26.89 in the after-hours session.
October 16, 2023 | 9:09 pm
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FB Financial Corp reported mixed Q3 results with earnings beating estimates but sales missing. The company's shares were down in after-hours trading.
FB Financial Corp's Q3 earnings beat estimates, which is a positive signal. However, the company's sales missed estimates, which is a negative signal. The company's shares were down in after-hours trading, indicating that the market has reacted negatively to the news. Therefore, the short-term impact on the company's stock price is likely to be negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100