Today’s Market Runner: Prosperity Bancshares Inc Q2 2016 Institutional Investor Sentiment Better Than Expected

December 1, 2016 - By Marguerite Chambers   ·   0 Comments

Today's Market Runner: Prosperity Bancshares Inc  Q2 2016 Institutional Investor Sentiment  Better Than Expected

Sentiment for Prosperity Bancshares Inc (NYSE:PB)

Prosperity Bancshares Inc (NYSE:PB) institutional sentiment increased to 1.33 in 2016 Q2. Its up 0.32, from 1.01 in 2016Q1. The ratio is better, as 89 active investment managers increased or started new positions, while 88 sold and decreased their stakes in Prosperity Bancshares Inc. The active investment managers in our partner’s database now possess: 49.54 million shares, down from 51.92 million shares in 2016Q1. Also, the number of active investment managers holding Prosperity Bancshares Inc in their top 10 positions was flat from 2 to 2 for the same number . Sold All: 14 Reduced: 74 Increased: 66 New Position: 23.

Prosperity Bancshares, Inc. is a financial holding company. The company has a market cap of $4.61 billion. The Firm operates through its bank subsidiary, Prosperity Bank . It has a 16.72 P/E ratio. The Bank provides a range of financial services and products to small and medium-sized businesses and consumers.

The stock increased 2.16% or $1.4 during the last trading session, hitting $66.13. Prosperity Bancshares, Inc. (NYSE:PB) has risen 26.90% since April 28, 2016 and is uptrending. It has outperformed by 20.98% the S&P500.

Analysts await Prosperity Bancshares, Inc. (NYSE:PB) to report earnings on January, 25. They expect $0.98 earnings per share, down 2.97% or $0.03 from last year’s $1.01 per share. PB’s profit will be $68.32 million for 16.87 P/E if the $0.98 EPS becomes a reality. After $0.99 actual earnings per share reported by Prosperity Bancshares, Inc. for the previous quarter, Wall Street now forecasts -1.01% negative EPS growth.

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.”

Prosperity Bancshares, Inc. (NYSE:PB) Ratings Coverage

Ratings analysis reveals 42% of Prosperity Bancshares’s analysts are positive. Out of 12 Wall Street analysts rating Prosperity Bancshares, 5 give it “Buy”, 4 “Sell” rating, while 3 recommend “Hold”. The lowest target is $46 while the high is $60. The stock’s average target of $53.43 is -19.20% below today’s ($66.13) share price. PB was included in 25 notes of analysts from July 28, 2015. FBR Capital maintained the stock with “Mkt Perform” rating in Thursday, April 28 report. Wedbush downgraded Prosperity Bancshares, Inc. (NYSE:PB) rating on Thursday, November 17. Wedbush has “Underperform” rating and $58 price target. On Thursday, January 28 the stock rating was upgraded by Keefe Bruyette & Woods to “Outperform”. Evercore upgraded Prosperity Bancshares, Inc. (NYSE:PB) on Thursday, June 9 to “Buy” rating. The stock of Prosperity Bancshares, Inc. (NYSE:PB) has “Sector Perform” rating given on Thursday, January 28 by RBC Capital Markets. The firm earned “Underperform” rating on Thursday, August 20 by Sterne Agee CRT. As per Friday, November 18, the company rating was downgraded by Hovde Group. The rating was upgraded by Sterne Agee CRT to “Underperform” on Wednesday, August 26. Raymond James upgraded the shares of PB in a report on Monday, May 9 to “Outperform” rating. The stock of Prosperity Bancshares, Inc. (NYSE:PB) earned “Outperform” rating by Hovde Group on Wednesday, June 29.

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.

More recent Prosperity Bancshares, Inc. (NYSE:PB) news were published by: Marketwatch.com which released: “Prosperity Bancshares downgraded to underpeform from neutral at Wedbush Securities” on June 07, 2011. Also Prnewswire.com published the news titled: “Prosperity Bancshares, Inc.® Releases Results Of 2016 Dodd-Frank Act Stress Test” on October 27, 2016. Prnewswire.com‘s news article titled: “Prosperity Bancshares, Inc.® Completes Merger With Tradition Bancshares, Inc.” with publication date: January 04, 2016 was also an interesting one.

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By Marguerite Chambers


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