Prosperity Bancshares (PB) is Upgraded by Hovde Group to Outperform, Price Target at $54

Prosperity Bancshares (PB) was Upgraded by Hovde Group to ” Outperform” and the brokerage firm has set the Price Target at $54. Earlier the firm had a rating of “Market Perform ” on the company shares. Hovde Group advised their investors in a research report released on Jun 29, 2016.

Many Wall Street Analysts have commented on Prosperity Bancshares. Prosperity Bancshares was Upgraded by Evercore ISI to ” Buy” on Jun 9, 2016. Compass Point Initiated Prosperity Bancshares on Jun 7, 2016 to “Neutral”, Price Target of the shares are set at $50.Prosperity Bancshares was Upgraded by Raymond James to ” Outperform” on May 9, 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 closed down -3.42 points or -7.06% at $45.05 with 10,05,617 shares getting traded on Monday. Post opening the session at $46.91, the shares hit an intraday low of $44.87 and an intraday high of $47.51 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 28, 2016, H E Jr Timanus (Vice Chairman) purchased 6,500 shares at $45.25 per share price. According to the SEC, on Feb 19, 2016, Robert H Steelhammer (director) sold 8,000 shares at $42.24 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 Company’s 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.

Prosperity Bancshares

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