Janney Montgomery Scott analyst John Rodis downgraded Prosperity Bancshares to Neutral from Buy with a fair value estimate of $80, up from $78, citing valuation. The stock trades at a premium valuation compared to peer-group medians, but the firm sees this as warranted given Prosperity’s strong fundamentals, "superior profitability" and potential to do accretive acquisitions, the analyst tells investors.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on PB:
- Prosperity Bancshares downgraded to Neutral from Buy at Janney Montgomery Scott
- Prosperity Bancshares reports Q4 EPS $1.51, consensus $1.49
- PROSPERITY BANCSHARES, INC.® REPORTS FOURTH QUARTER 2022 EARNINGS
- PROSPERITY BANCSHARES, INC.® ANNOUNCES COMMON STOCK DIVIDEND
- Prosperity Bancshares announces roughly 4.6M share buyback
