Guaranty Bancshares price target lowered to $31 from $32 at Stephens

Stephens analyst Matt Olney lowered the firm’s price target on Guaranty Bancshares to $31 from $32 and keeps an Overweight rating on the shares. Guaranty’s Q3 results were highlighted by steady loan betas and good cost controls, but EPS missed consensus primarily due to elevated deposit cost pressure that accelerated compared to the previous quarter, says the analyst, who lowered the firm’s 2024 EPS estimate by 7% from the previous forecast to reflect incremental headwinds.