Prosperity Bancshares falls after Citi downgrades to 'neutral'

Shares of regional lender Prosperity Bancshares PB.N down 1.53% at $66.80 premarket

Citi downgrades PB to "neutral" from "buy" and cuts price target to $68 from $78

Citi says it has long viewed PB as one of the best “bolt-on” buyers in the small- and mid-cap stocks segment, but deal pricing in the current market is likely moving beyond the scope of what the bank is willing to pay

That could keep PB away from deals large enough to support a valuation rerating, Citi says

Nine of the 14 analysts rate the stock buy or higher and five "hold"; median PT is $81 - data compiled by LSEG

As of last close, shares down 9.96% YTD