KBW Sticks to Its Buy Rating for Prosperity Bancshares (PB)

KBW analyst Catherine Mealor maintained a Buy rating on Prosperity Bancshares today and set a price target of $90.00. The company’s shares closed yesterday at $65.06.

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Mealor covers the Financial sector, focusing on stocks such as Prosperity Bancshares, Pinnacle Financial Partners, and Synovus. According to TipRanks, Mealor has an average return of 13.0% and a 68.75% success rate on recommended stocks.

Prosperity Bancshares has an analyst consensus of Moderate Buy, with a price target consensus of $79.08, representing a 21.55% upside. In a report released on October 7, Raymond James also maintained a Buy rating on the stock with a $75.00 price target.

Based on Prosperity Bancshares’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $435.75 million and a net profit of $135.16 million. In comparison, last year the company earned a revenue of $446.96 million and had a net profit of $111.6 million

Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PB in relation to earlier this year. Earlier this month, Ned Holmes, a Director at PB sold 1,100.00 shares for a total of $72,210.00.