The stock of Prosperity Bancshares, Inc. (NYSE:PB) is a huge mover today! About 286,433 shares traded hands. Prosperity Bancshares, Inc. (NYSE:PB) has risen 25.60% since March 2, 2016 and is uptrending. It has outperformed by 17.34% the S&P500.
The move comes after 8 months positive chart setup for the $3.89 billion company. It was reported on Oct, 5 by Barchart.com. We have $68.58 PT which if reached, will make NYSE:PB worth $894.70M more.
Analysts await Prosperity Bancshares, Inc. (NYSE:PB) to report earnings on October, 28. They expect $0.99 earnings per share, down 1.98% or $0.02 from last year’s $1.01 per share. PB’s profit will be $69.07M for 14.08 P/E if the $0.99 EPS becomes a reality. After $0.98 actual earnings per share reported by Prosperity Bancshares, Inc. for the previous quarter, Wall Street now forecasts 1.02% EPS growth.
Prosperity Bancshares, Inc. (NYSE:PB) Ratings Coverage
Out of 10 analysts covering Prosperity Bancshares (NYSE:PB), 5 rate it a “Buy”, 2 “Sell”, while 3 “Hold”. This means 50% are positive. Prosperity Bancshares has been the topic of 20 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The stock of Prosperity Bancshares, Inc. (NYSE:PB) has “Sector Perform” rating given on Thursday, January 28 by RBC Capital Markets. The stock of Prosperity Bancshares, Inc. (NYSE:PB) earned “Underperform” rating by Sterne Agee CRT on Thursday, August 20. Sterne Agee CRT upgraded the stock to “Underperform” rating in Wednesday, August 26 report. As per Tuesday, January 5, the company rating was initiated by JP Morgan. Compass Point initiated Prosperity Bancshares, Inc. (NYSE:PB) on Tuesday, June 7 with “Neutral” rating. Evercore upgraded Prosperity Bancshares, Inc. (NYSE:PB) on Thursday, June 9 to “Buy” rating. The company was upgraded on Monday, May 9 by Raymond James. On Tuesday, July 28 the stock rating was maintained by FBR Capital with “Mkt Perform”. The stock has “Outperform” rating given by Hovde Group on Wednesday, June 29. The stock has “Underperform” rating given by Bank of America on Tuesday, January 12.
According to Zacks Investment Research, “Prosperity Bancshares is a registered bank holding Company that derives substantially all of its revenues and income from the operation of First Prosperity Bank. The Bank is a full service bank that provides a broad line of financial products and services to small and medium sized businesses and consumers through full-service banking locations, three of which are located in the greater Houston metropolitan area.”
More important recent Prosperity Bancshares, Inc. (NYSE:PB) news were published by: Nasdaq.com which released: “Prosperity Bancshares Reaches Analyst Target Price” on October 03, 2016, also Prnewswire.com published article titled: “Prosperity Bancshares, Inc.® Announces Management Changes”, Prnewswire.com published: “Prosperity Bancshares, Inc.® To Acquire Tradition Bancshares, Inc. In Houston …” on August 06, 2015. More interesting news about Prosperity Bancshares, Inc. (NYSE:PB) was released by: Finance.Yahoo.com and their article: “Prosperity Bancshares’ Elevated Expenses Pose a Concern” with publication date: September 28, 2016.
PB Company Profile
Prosperity Bancshares, Inc., incorporated on December 22, 1983, is a financial holding company. The Firm operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial services and products to small and medium-sized businesses and consumers. The Bank operates approximately 240 full service banking locations; 60 in the Houston area, including The Woodlands; 30 in the South Texas area, including Corpus Christi and Victoria; 40 in the Dallas/Fort Worth area; 20 in the East Texas area; 30 in the Central Texas area, including Austin and San Antonio; 30 in the West Texas area, including Lubbock, Midland-Odessa and Abilene; 20 in the Bryan/College Station area; six in the Central Oklahoma area, and eight in the Tulsa, Oklahoma area. The Company’s additional services and products include trust services, brokerage, mortgage lending, credit card and independent sales organization (ISO) sponsorship operations. The Firm also has a trust department, which provides trust services in the Company’s various market areas.
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