Prosperity Bancshares (PB) was Downgraded by FIG Partners to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. FIG Partners advised their investors in a research report released on Apr 27, 2016.
On the company’s financial health, Prosperity Bancshares reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.95.Analysts expectations of $ 183.71.During the same quarter in the previous year, the company posted $1.05 EPS.
Prosperity Bancshares opened for trading at $51.41 and hit $52.2 on the upside on Friday, eventually ending the session at $51.75, with a gain of 1.45% or 0.74 points. The heightened volatility saw the trading volume jump to 4,48,602 shares. Company has a market cap of $3,616 M.
In a different news, on Feb 19, 2016, Robert H Steelhammer (director) sold 8,000 shares at $42.24 per share price. According to the SEC, on Feb 3, 2016, H E Jr Timanus (Vice Chairman) purchased 3,000 shares at $40.30 per share price. On Feb 1, 2016, Randy Hester (Chief Lending Officer of Bank) purchased 175 shares at $41.50 per share price, according to the Form-4 filing with the securities and exchange commission.
Prosperity Bancshares Inc. is a financial holding company. The Company operates through its bank subsidiary Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. The Companys additional products and services include trust services brokerage mortgage lending credit card and independent sales organization (ISO) sponsorship operations. Its traditional deposit products include certificates of deposit interest checking accounts savings accounts and overdraft protection. The Bank operates 245 full service banking locations including 62 in the Houston area 30 in the South Texas area 36 in the Dallas/Fort Worth area 22 in the East Texas area 30 in the Central Texas area 34 in the West Texas area 16 in the Bryan/College Station area six in the Central Oklahoma area and nine in the Tulsa Oklahoma area.