FB Financial upgraded to Overweight from Equal Weight at Stephens

Stephens analyst Russell Gunther upgraded FB Financial to Overweight from Equal Weight with a price target of $45, up from $39, following a change in analysts. The bank has a “de-risked” balance sheet as construction and commercial real estate balances are “within striking distance of targeted concentrations,” and its slimmed-down expense base is driving positive operating leverage, the analyst tells investors in a research note. As such, the firm believes FB is well positioned to accelerate the pace of organic growth from mid-single-digits toward its traditional, above-peer, low-double digit clip.