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FB Financial (FBK) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2024, FB Financial (FBK - Free Report) reported revenue of $107.45 million, down 15.5% over the same period last year. EPS came in at $0.85, compared to $0.76 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $119.84 million, representing a surprise of -10.34%. The company delivered an EPS surprise of +21.43%, with the consensus EPS estimate being $0.70.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how FB Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 67.4% versus 62.4% estimated by four analysts on average.
Net Interest Margin: 3.4% versus 3.4% estimated by four analysts on average.
Net Charge-offs during the period to Average Loans outstanding: 0% compared to the 0.1% average estimate based on three analysts.
Average Earning Assets: $11.80 billion versus $11.90 billion estimated by three analysts on average.
Total nonperforming loans HFI: $67.75 million versus the two-analyst average estimate of $62.15 million.
Total nonperforming assets: $94.07 million versus the two-analyst average estimate of $65.94 million.
Mortgage banking income: $12.59 million compared to the $10.71 million average estimate based on four analysts.
Total Noninterest income: $7.96 million versus the four-analyst average estimate of $21.09 million.
Investment services and trust income: $3.23 million versus the three-analyst average estimate of $2.94 million.
Other Income: $1.71 million compared to the $1.79 million average estimate based on three analysts.
Service charges on deposit accounts: $3.14 million versus the three-analyst average estimate of $2.95 million.
ATM and interchange fees: $2.94 million compared to the $2.63 million average estimate based on three analysts.
Shares of FB Financial have returned -1.2% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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FB Financial (FBK) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, FB Financial (FBK - Free Report) reported revenue of $107.45 million, down 15.5% over the same period last year. EPS came in at $0.85, compared to $0.76 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $119.84 million, representing a surprise of -10.34%. The company delivered an EPS surprise of +21.43%, with the consensus EPS estimate being $0.70.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how FB Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 67.4% versus 62.4% estimated by four analysts on average.
- Net Interest Margin: 3.4% versus 3.4% estimated by four analysts on average.
- Net Charge-offs during the period to Average Loans outstanding: 0% compared to the 0.1% average estimate based on three analysts.
- Average Earning Assets: $11.80 billion versus $11.90 billion estimated by three analysts on average.
- Total nonperforming loans HFI: $67.75 million versus the two-analyst average estimate of $62.15 million.
- Total nonperforming assets: $94.07 million versus the two-analyst average estimate of $65.94 million.
- Mortgage banking income: $12.59 million compared to the $10.71 million average estimate based on four analysts.
- Total Noninterest income: $7.96 million versus the four-analyst average estimate of $21.09 million.
- Investment services and trust income: $3.23 million versus the three-analyst average estimate of $2.94 million.
- Other Income: $1.71 million compared to the $1.79 million average estimate based on three analysts.
- Service charges on deposit accounts: $3.14 million versus the three-analyst average estimate of $2.95 million.
- ATM and interchange fees: $2.94 million compared to the $2.63 million average estimate based on three analysts.
View all Key Company Metrics for FB Financial here>>>Shares of FB Financial have returned -1.2% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.