SmartFinancial price target lowered to $25 from $27 at Stephens

Stephens lowered the firm’s price target on SmartFinancial to $25 from $27 and keeps an Overweight rating on the shares. The company’s Q3 results were highlighted by good fee income, steady loan growth, and stable credit, but more deposit cost pressure than expected contributed to soft NII results, the analyst tells investors. By mid-2024, the company should have unique revenue tailwinds that should drive NIM expansion, Stephens adds.