Hovde Group analyst Joseph Fenech upgraded Prosperity Bancshares (NYSE: PB) to Hold on July 9 and set a price target of $70. The company’s shares closed yesterday at $67.78.
According to TipRanks.com, Fenech is a 4-star analyst with an average return of 9.4% and a 78.9% success rate. Fenech covers the Financial sector, focusing on stocks such as Seacoast Banking Corporation Of Florida, Hancock Whitney Corporation, and German American Bancorp.
Currently, the analyst consensus on Prosperity Bancshares is a Moderate Buy with an average price target of $76.20, a 12.4% upside from current levels. In a report issued on June 26, Sandler O’Neill also maintained a Hold rating on the stock with a $77 price target.
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Prosperity Bancshares’ market cap is currently $4.73B and has a P/E ratio of 16.90. The company has a Price to Book ratio of 1.22.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock.
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Prosperity Bancshares, Inc. is a holding company, which engages in the provision of financial products and solutions. It provides retail and commercial banking services such as deposits, online Internet banking, loan services, investments, trust, credit card and others. The company offers its products to small and medium-sized businesses and consumers.
