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.
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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