There’s a lot to be optimistic about in the Financial sector as 2 analysts just weighed in on Independent Bank Group (IBTX) and FB Financial Corporation (FBK) with bullish sentiments.
Independent Bank Group (IBTX)
In a report released yesterday, Matt Olney from Stephens maintained a Buy rating on Independent Bank Group, with a price target of $65. The company’s shares closed yesterday at $55.10.
According to TipRanks.com, Olney is a 1-star analyst with an average return of -0.4% and a 44.0% success rate. Olney covers the Financial sector, focusing on stocks such as Spirit Of Texas Bancshares Inc, Business First Bancshares Inc, and Hancock Whitney Corporation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Independent Bank Group with a $68 average price target.
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FB Financial Corporation (FBK)
In a report released yesterday, Tyler Stafford from Stephens maintained a Buy rating on FB Financial Corporation, with a price target of $42. The company’s shares closed yesterday at $37.04.
Stafford commented:
“We view the 11.5x valuation as attractive given this outlook and quality of the franchise. We maintain our OW rating. KEY POINTS: Positives. Organic HFI loan growth was 13.5% LQA vs. our 11.2%, with total EOP loans coming in $38 mil. better than estimates. Fee income of $32.9 mil. beat our $32.2 mil. and Street’s $29.9 mil., with mortgage +17% q/q (vs. our +12%). Contractual NIM of 3.99% was above our 3.98%, as deposit costs held flat (vs. our +5 bps). An LLP beat added $0.03 to EPS.”
According to TipRanks.com, Stafford is a 4-star analyst with an average return of 4.3% and a 53.7% success rate. Stafford covers the Financial sector, focusing on stocks such as Capstar Financial Holdings Inc, Carolina Financial Corporation, and Amerant Bancorp Inc. Class A.
FB Financial Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $42.
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