First Bancshares price target lowered to $29 from $32 at Stephens

Stephens lowered the firm’s price target on First Bancshares to $29 from $32 and keeps an Overweight rating on the shares. The company’s Q3 results were highlighted by steady organic loan growth and stable credit trends, however, deposit cost pressure resulted in NII softness that drove an EPS miss, the analyst tells investors. The firm believes the company’s PPNR growth will be limited in the near term.