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Stephens analyst Russell Gunther lowered the firm’s price target on FB Financial (FBK) to $58 from $65 and keeps an Overweight rating on the shares. The pending deal for Southern States (SSBK) is consistent with management’s articulated M&A strategy from an asset size, geographic location, and financial target perspective, says the analyst, who sees FB having continued flexibility to consider additional M&A and/or incremental legacy securities portfolio restructuring.

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