DA Davidson Starts Prosperity Bancshares (PB) at Neutral; High Quality Institution With Near-Term Growth Challenges

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January 13, 2012 10:37 AM EST
Get Alerts PB Hot Sheet
Price: $74.63 --0%

Rating Summary:
    11 Buy, 14 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 12 | New: 8
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DA Davidson initiates coverage on Prosperity Bancshares (NYSE: PB) with a Neutral. PT $46.00.

DA analyst says, "Successful M&A model has been challenged of late. PB’s growth model has historically been dependent on the company’s participation in the consolidation of the Texas banking industry. While the company has completed 21 transactions since 1998, and has one small deal pending approval, recent activity has been below long-term levels. We believe PB management remains in acquisition mode and we look for its strategy to accelerate over the course of 2012."

For an analyst ratings summary and ratings history on Prosperity Bancshares click here. For more ratings news on Prosperity Bancshares click here.

Shares of Prosperity Bancshares closed at $42.43 yesterday.

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