First Financial price target raised to $40 from $37 at Stephens

Stephens analyst Matt Olney raised the firm’s price target on First Financial (FFIN) to $40 from $37 and keeps an Equal Weight rating on the shares. Q3 EPS was relatively in line with consensus forecast as the net interest margin expanded 2 basis points, notes the analyst, who expects additional improvements in Q4 and into early 2025 with the assumption of an incremental 150 points of gradual Fed Fund cuts over the next eight months.