Prosperity Bancshares price target lowered to $78 from $79 at DA Davidson

DA Davidson analyst Peter Winter lowered the firm’s price target on Prosperity Bancshares to $78 from $79 and keeps a Buy rating on the shares. The company’s Q4 net interest margin expanded by 3bps, but this was offset by a high level of loan paydowns, leading to a 1.1% decline in net interest income, the analyst tells investors in a research note.