** Hovde Group upgrades regional lender FB Financial FBK.N to "outperform" from "market perform" following announcement of $381 million deal to acquire community bank Southern States Bancshares SSBK.O
** Brokerage expects strong levers for better growth at FBK than peers and improvement in profitability going forward
** Says SSBK deal checks all the boxes, given anticipated EPS boost and cost savings as well as geographic expansion into targeted areas
** Hovde cuts PT by $1 to $59 due to less certain economic backdrop amid uncertainty over U.S. trade policy
** New PT represents 27.3% upside to stock's last close
** 3 of 6 brokerages rate the stock "buy" or higher and 3 "hold"; median PT $60 - data compiled by LSEG
** As of last close, FBK shares down 10% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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