Prosperity Bancshares (NYSE:PB) PT Lowered to $72.00 at SunTrust Banks

Prosperity Bancshares (NYSE:PB) had its price objective decreased by SunTrust Banks from $80.00 to $72.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the bank’s stock. SunTrust Banks’ price objective would suggest a potential upside of 29.59% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Compass Point began coverage on Prosperity Bancshares in a research note on Tuesday, April 14th. They issued a “buy” rating on the stock. ValuEngine lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, May 22nd. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $50.00 to $66.00 in a research report on Thursday, April 30th. TheStreet lowered shares of Prosperity Bancshares from a “b-” rating to a “c+” rating in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods upgraded shares of Prosperity Bancshares from a “market perform” rating to an “outperform” rating and set a $76.00 price objective on the stock in a report on Wednesday, April 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $69.50.

Prosperity Bancshares stock opened at $55.56 on Thursday. The firm has a 50 day moving average price of $57.73 and a two-hundred day moving average price of $60.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.75 and a current ratio of 0.79. Prosperity Bancshares has a 52-week low of $42.02 and a 52-week high of $75.22. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 1.07 and a beta of 1.47.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, July 29th. The bank reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.28. The business had revenue of $284.63 million during the quarter, compared to the consensus estimate of $279.04 million. Prosperity Bancshares had a net margin of 36.72% and a return on equity of 8.25%. During the same quarter last year, the firm earned $1.18 earnings per share. As a group, equities research analysts predict that Prosperity Bancshares will post 5.27 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Beese Fulmer Investment Management Inc. purchased a new stake in Prosperity Bancshares during the second quarter valued at approximately $26,000. Marshall Wace North America L.P. purchased a new stake in Prosperity Bancshares in the 1st quarter worth $35,000. Sowell Financial Services LLC boosted its holdings in shares of Prosperity Bancshares by 79.4% during the 1st quarter. Sowell Financial Services LLC now owns 678 shares of the bank’s stock valued at $33,000 after purchasing an additional 300 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Prosperity Bancshares during the second quarter valued at about $54,000. Finally, Bartlett & Co. LLC bought a new stake in shares of Prosperity Bancshares in the first quarter worth about $51,000. Institutional investors and hedge funds own 79.97% of the company’s stock.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; and consumer durables and home equity loans.

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Analyst Recommendations for Prosperity Bancshares (NYSE:PB)

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