Five Star price target lowered to $37 from $38.50 at DA Davidson

DA Davidson lowered the firm’s price target on Five Star (FSBC) to $37 from $38.50 and keeps a Buy rating on the shares. The company’s Q1 was essentially in line with forecasts as net income was just $125k above estimate and net interest margin expansion was more favorable than anticipated, the analyst tells investors in a research note. The firm’s updated model changes reflect a higher net interest income outlook, along with a higher non-interest expense projection, DA Davidson added.