First Financial price target raised to $33 from $32 at Stephens

Stephens analyst Matt Olney raised the firm’s price target on First Financial to $33 from $32 and keeps an Equal Weight rating on the shares. Q2 results were slowed by net interest margin contraction due to elevated IB deposit costs and ongoing deposit migration and the firm expects these headwinds to continue for remainder of 2023, though it adds that it is “optimistic for 2024” that the earning asset remix will support margins and improving loan growth will stabilize net interest income.