Bank7 price target lowered to $24 from $27 at Stephens

Stephens lowered the firm’s price target on Bank7 to $24 from $27 and keeps an Equal Weight rating on the shares. The company’s Q3 results were slowed by a single large energy credit, which drove an elevated LLP expense and EPS miss, and the company now expects additional impact from the credit in Q4, the analyst tells investors. Stephens’ updated forecast assumes the Q4 LLP expense will offset the PPNR income, which will result in immaterial EPS for the quarter.