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FB Financial
(NYSE:FBK)
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Rating:74Outperform
Price Target:
$68.00
â–²(15.06% Upside)
Action:Reiterated
Date:08/04/26
FBK scores well on improving financial performance (profitability rebound, conservative leverage, strong cash conversion) and supportive technical trends (price above key moving averages with positive MACD). The score is tempered by only middling valuation support (modest yield) and management’s acknowledgment of near-term headwinds (higher provisioning, specific credit issues, and competitive pressure on margins and deposit costs).
Positive Factors
Balance sheet strength
Conservative leverage (debt-to-equity ~0.19) and meaningful equity growth since 2022 create durable capital buffers. That resilience supports continued lending, cushions credit shocks, and preserves strategic optionality for buybacks and investments across rate and credit cycles.
Negative Factors
Concentrated credit stress
The uptick in nonperforming assets tied to three specific relationships signals idiosyncratic credit risk that can force elevated provisions. Concentrated problem credits can produce episodic earnings pressure, require targeted workouts, and temporarily constrain capital deployment until resolved.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Conservative leverage (debt-to-equity ~0.19) and meaningful equity growth since 2022 create durable capital buffers. That resilience supports continued lending, cushions credit shocks, and preserves strategic optionality for buybacks and investments across rate and credit cycles.
Read all positive factors
FB Financial (FBK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.10B
Dividend Yield1.32%
Average Volume (3M)335.23K
Price to Earnings (P/E)16.5
Beta (1Y)0.95
Revenue Growth43.18%
EPS Growth94.72%
CountryUS
Employees1,594
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.76
Shares Outstanding49,978,138
10 Day Avg. Volume384,328
30 Day Avg. Volume335,225
Financial Highlights & Ratios
PEG Ratio-7.21
Price to Book (P/B)1.52
Price to Sales (P/S)3.37
P/FCF Ratio20.14
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$56.28Price Target Upside-4.77% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)4.68
Revenue Forecast (FY)$717.03M
FB Financial Business Overview & Revenue Model
Company Description
FB Financial Corporation functions as the parent entity for FirstBank, offering an extensive array of commercial and consumer banking solutions tailored for businesses, professionals, and individual clients. The company organizes its activities in...
How the Company Makes Money
FB Financial primarily makes money through (1) net interest income and (2) noninterest income. Net interest income is generated by earning interest on loans and other interest-earning assets (such as securities) and paying interest on funding sour...
FB Financial Earnings Call Summary
Earnings Call Date:Jul 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 19, 2026
Earnings Call Sentiment Positive
The call highlighted strong quarter-over-quarter performance: double-digit annualized loan growth (11.6%), mid-single-digit deposit growth (7.7% annualized), an 8% increase in pretax pre-provision net revenue, solid EPS ($1.13 GAAP, $1.14 adjusted), improved efficiency (52.3%) and robust capital ratios with an active share repurchase program (≈3% of shares). Offsetting these positives were higher provision expense (+~$7M), an uptick in nonperforming assets tied to three specific relationships, a modest decline in mortgage banking revenue ($1.1M) due to holding loans on the balance sheet, and anticipated margin and deposit-cost pressures from elevated competition; management expects some expense normalization as hiring resumes. On balance, the company presented strong operating momentum, disciplined capital deployment and manageable credit issues tied to a few specific credits rather than broad portfolio weakness.Positive Updates
Strong Earnings and EPS
Reported GAAP EPS of $1.13 and adjusted EPS of $1.14; net income of $58.6 million (adjusted $58.9 million).
Negative Updates
Increase in Provision Expense and Allowance Build
Provision expense rose to $10.1 million for the quarter, an increase of roughly $7 million sequentially; allowance coverage ended the period at 1.51% driven primarily by loan growth and several specific reserves.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Earnings and EPS
Reported GAAP EPS of $1.13 and adjusted EPS of $1.14; net income of $58.6 million (adjusted $58.9 million).
Read all positive updates
Company Guidance
Management reiterated full‑year targets of mid‑to‑high single‑digit loan growth (they remain comfortable with that range) and mid‑to‑high single‑digit deposit growth (currently trending toward the lower end), a full‑year NIM (ex loan accretion) of 3.7–3.8%, banking noninterest expense of $325–335 million, and a consolidated efficiency ratio at or around 50% by year‑end. They assume one Fed hike in Q3 2026, remain slightly asset‑sensitive (≈52% of loans floating; investment portfolio ~55–60% floating), expect blended new loan yields near 6.35–6.40% (all‑in loan yield 6.48%) and blended new deposit costs ~2.60–2.70% (quarterly deposit cost 2.26%; quarterly NIM 3.95%). Quarter metrics noted included EPS $1.13 (adj. $1.14), net income $58.6M (adj. $58.9M), PPNR $83.3M, annualized loan growth 11.6%, deposit growth 7.7%, allowance coverage 1.51%, provision $10.1M, annualized net charge‑offs ~6 bps, and strong capital (CET1 11%, Tier‑1 leverage 10.1%, total risk‑based 12.9%; TCE target ≈9%); management also said they remain opportunistic on buybacks (≈3% of shares repurchased this quarter, two‑thirds via a single charity transaction).FB Financial Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.03B | 877.84M | 766.77M | 748.98M | 596.35M | 613.25M |
| Gross Profit | 650.78M | 516.73M | 445.74M | 475.25M | 508.19M | 616.62M |
| EBITDA | 272.52M | 150.70M | 161.58M | 165.13M | 172.18M | 256.94M |
| Net Income | 196.53M | 122.62M | 116.03M | 120.22M | 124.56M | 190.28M |
Balance Sheet | ||||||
| Total Assets | 16.80B | 16.30B | 13.16B | 12.60B | 12.85B | 12.60B |
| Cash, Cash Equivalents and Short-Term Investments | 147.03M | 1.56B | 1.74B | 1.71B | 2.29B | 3.35B |
| Total Debt | 372.45M | 283.21M | 246.55M | 468.35M | 494.99M | 226.52M |
| Total Liabilities | 14.86B | 14.35B | 11.59B | 11.15B | 11.52B | 11.16B |
| Stockholders Equity | 1.94B | 1.95B | 1.57B | 1.45B | 1.33B | 1.43B |
Cash Flow | ||||||
| Free Cash Flow | 198.17M | 147.01M | 132.25M | 190.84M | 789.08M | 48.78M |
| Operating Cash Flow | 207.05M | 155.86M | 138.80M | 211.07M | 799.71M | 54.88M |
| Investing Cash Flow | -525.89M | -32.48M | -294.00M | -55.22M | -1.75B | -849.56M |
| Financing Cash Flow | 265.47M | -9.97M | 386.76M | -371.98M | 184.10M | 1.27B |
FB Financial Risk Analysis
FB Financial disclosed 37 risk factors in its most recent earnings report. FB Financial reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
FB Financial Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $4.05B | 15.44 | 8.22% | 3.51% | 8.42% | -0.98% | |
75 Outperform | $3.72B | 18.45 | 12.46% | 2.96% | 14.45% | 8.54% | |
74 Outperform | $3.10B | 16.51 | 10.03% | 1.35% | 43.18% | 94.72% | |
70 Outperform | $3.44B | 21.64 | 5.61% | 2.24% | 23.80% | -3.35% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $3.48B | 10.57 | 11.66% | 4.88% | 34.95% | 54.57% | |
63 Neutral | $3.38B | 13.25 | 9.04% | 2.75% | -5.21% | 6.73% |
* Financial Sector Average
FBK
FB Financial
62.08
12.45
25.08%
BKU
BankUnited
47.83
11.39
31.26%
CVBF
Cvb Financial
23.16
4.59
24.68%
PRK
Park National
207.61
46.26
28.67%
SBCF
Seacoast Banking Of Florida
35.93
7.83
27.87%
TOWN
TowneBank
37.83
2.92
8.36%
FB Financial Corporate Events
Business Operations and StrategyFinancial Disclosures
FB Financial Highlights Non-GAAP Metrics at Investor Conference
Neutral
Jul 27, 2026
On July 28, 2026, FB Financial’s management team presented at the Keefe, Bruyette Woods Summer Bank Conference, using a third-quarter investor slide deck that was simultaneously made available on its investor website for market participants...
Stock BuybackFinancial Disclosures
FB Financial posts strong second-quarter 2026 results
Positive
Jul 13, 2026
FB Financial Corporation reported strong second-quarter 2026 results on July 13, 2026, posting net income of $58.6 million, or $1.13 per diluted share, up from $1.10 in the prior quarter and $0.06 a year earlier, with adjusted earnings of $1.14 pe...
Executive/Board ChangesShareholder Meetings
FB Financial Shareholders Approve Key Proposals, Maintain Governance
Positive
May 22, 2026
At its annual meeting of shareholders held on May 21, 2026, FB Financial shareholders elected 13 directors to one-year terms and ratified the appointment of Crowe LLP as the independent registered public accounting firm for the 2026 fiscal year. I...
Business Operations and StrategyFinancial Disclosures
FB Financial Highlights Non-GAAP Metrics, Customer Satisfaction Strength
Positive
May 13, 2026
On May 14, 2026, FB Financial’s management presented at the Wells Fargo financial services investor conference, using a second-quarter investor deck that emphasizes the company’s reliance on non-GAAP metrics to assess operating perform...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.