FBR Capital Reiterates a 'Market Perform' on Prosperity Bancshares (PRSP); 1Q11: Improved Credit, Emergence of Loan Growth and NIM Expansion
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Price: $29.34 --0%
Rating Summary:
1 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
1 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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FBR Capital reiterates a 'Market Perform' on Prosperity Bancshares (NASDAQ: PRSP), PT raised from $44 to $46.
FBR analyst says, "We believe Prosperity Bancshares is well positioned to capitalize upon a strong Texas economy, which we believe will support above-industry-average loan and deposit growth. Prosperity's conservative management team has a proven track record of executing accretive acquisitions and extracting cost saves, the continuation of which should further enhance profitability, market share, and ultimately franchise value. In the near term, we expect Prosperity to be an opportunistic acquirer; however, we believe that the company's attractive deposit franchise makes it an attractive takeout target for a larger bank looking for an entry point into the Texas market. Consequently, we believe strength of management and the scarcity value of its deposit franchise should help support the stock."
For more ratings news on Prosperity Bancshares click here and for the rating history of Prosperity Bancshares click here.
Shares of Prosperity Bancshares closed at $43.20 yesterday.
FBR analyst says, "We believe Prosperity Bancshares is well positioned to capitalize upon a strong Texas economy, which we believe will support above-industry-average loan and deposit growth. Prosperity's conservative management team has a proven track record of executing accretive acquisitions and extracting cost saves, the continuation of which should further enhance profitability, market share, and ultimately franchise value. In the near term, we expect Prosperity to be an opportunistic acquirer; however, we believe that the company's attractive deposit franchise makes it an attractive takeout target for a larger bank looking for an entry point into the Texas market. Consequently, we believe strength of management and the scarcity value of its deposit franchise should help support the stock."
For more ratings news on Prosperity Bancshares click here and for the rating history of Prosperity Bancshares click here.
Shares of Prosperity Bancshares closed at $43.20 yesterday.
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