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Wedbush Sticks to Its Hold Rating for Prosperity Bancshares (PB)

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Wedbush analyst Peter Winter maintained a Hold rating on Prosperity Bancshares (PBResearch Report) yesterday and set a price target of $81.00. The company’s shares closed last Monday at $74.37.

According to TipRanks.com, Winter is a 4-star analyst with an average return of 9.9% and a 55.4% success rate. Winter covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Texas Capital Bancshares, and Huntington Bancshares.

The word on The Street in general, suggests a Hold analyst consensus rating for Prosperity Bancshares with a $83.67 average price target, a 12.2% upside from current levels. In a report issued on January 26, RBC Capital also maintained a Hold rating on the stock with a $79.00 price target.

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Based on Prosperity Bancshares’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $271 million and net profit of $127 million. In comparison, last year the company earned revenue of $286 million and had a net profit of $137 million.

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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. Prosperity Bancshares was founded by Tracy T. Rudolph in 1983 and is headquartered in Houston, TX.

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