FB Financial price target raised to $43 from $41 at JPMorgan

JPMorgan analyst Steven Alexopoulos raised the firm’s price target on FB Financial to $43 from $41 and keeps an Underweight rating on the shares after its Q1 results. The earnings beat was driven by net interest income declining less than expected, mortgage banking contributing favorably, strong expense management, and lower provision expenses, the analyst tells investors in a research note. FB Financial also reiterated its mid-single-digit percent loan growth outlook in 2024, implying a catch-up in loan growth in the quarters ahead, the firm added.