Prosperity Bancshares price target lowered to $61 from $64 at Stephens

Stephens analyst Matt Olney lowered the firm’s price target on Prosperity Bancshares to $61 from $64 and keeps an Equal Weight rating on the shares. The company’s Q3 results demonstrated “excellent” cost controls and stable credit trends that drove EPS to beat consensus, the analyst tells investors. The firm anticipates additional tailwinds throughout 2024-2025 that could support additional NIM expansion, which, in turn, could cause PPNR growth throughout the same time period.