MainStreet Bancshares downgraded at Stephens after ‘mixed’ Q2

As previously reported, Stephens analyst Matt Breese downgraded MainStreet Bancshares to Equal Weight from Overweight with an unchanged price target of $24 after the company reported “mixed” Q2 results. Considering stock outperformance over the last year, juxtaposed with “thematic headwinds” and forecasted below peer profitability in 2024, the firm believes the current valuation represents fair value, the analyst tells investors.