First Financial price target lowered to $31 from $35 at Stephens

Stephens lowered the firm’s price target on First Financial to $31 from $35 and keeps an Equal Weight rating on the shares. The bank’s excess capital position is “important and not considered in our EPS forecast,” says the firm, which continues to believe such capital could be deployed into accretive M&A. However, in the near-term, Stephens senses M&A volumes within the region will remain soft, the analyst tells investors.