Regional Management price target lowered to $30 from $38 at Stephens

Stephens lowered the firm’s price target on Regional Management to $30 from $38 and keeps an Equal Weight rating on the shares. The company’s Q3 EPS beat consensus, but its Q4 guidance has led the firm to lower its EPS estimates, the analyst tells investors. Tougher credit trends and tighter underwriting driving slower loan growth will keep NCOs above the long-term target of 8.5%-9% through 2024 and allowance rate above long-term 10%, the firm says.