Prosperity Bancshares (PB) is Resumed by FBR & Co. to Outperform, Raises Price Target to $ 60

Prosperity Bancshares (PB) was Resumed by FBR & Co. to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 60 from a previous price target of $55 . FBR & Co. advised their investors in a research report released on Oct 11, 2016.

Many Wall Street Analysts have commented on Prosperity Bancshares. Wedbush Initiated Prosperity Bancshares on Oct 7, 2016 to “Neutral”, Price Target of the shares are set at $54.

On the company’s financial health, Prosperity Bancshares reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.97.Analysts expectations of $ 191.88.During the same quarter in the previous year, the company posted $1.03 EPS.

Prosperity Bancshares closed down -0.4 points or -0.72% at $54.9 with 3,95,088 shares getting traded on Friday. Post opening the session at $55.03, the shares hit an intraday low of $54.24 and an intraday high of $55.09 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Sep 12, 2016, Robert H Steelhammer (director) sold 2,900 shares at $54.00 per share price. According to the SEC, on Aug 25, 2016, Perry Jr Mueller (director) sold 13,536 shares at $54.00 per share price. On Jun 28, 2016, H E Jr Timanus (Vice Chairman) purchased 6,500 shares at $45.25 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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