Prosperity Bancshares Inc (NYSE:PB) reaching 52-week high, short interest decreasing

Prosperity Bancshares Inc (NYSE:PB) (Trend Analysis) shares were traded with a doubled volume. The stock closed last trading session at $60.92, up by 4.07%, with a volume of 881,194 shares against an average amount for the last three months of 312,654.

Stock Performance: Click here for a free comprehensive Trend Analysis Report

Prosperity Bancshares Inc (NYSE:PB) stock is currently trading 2.64% below its 52-week-high, 81.47% above its 52-week-low. The 1-year stock price history is in the range of $33.57 – $62.57. Prosperity Bancshares Inc (PB) has a price to earnings ratio of 15.42 versus Financial sector average of 15.9. PB stock price has outperformed the S&P 500 by 21.9%. The Financial Services company is currently valued at $4.23 billion, and its share price closed the last trading session at $60.92. The stock has a 50-day moving average of $54.95 and a 200-day moving average of $52.82.

Prosperity Bancshares Inc (PB) current short interest stands at 4.3 million shares. It has decreased by 8% from the same period of last month. Around 7% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.33 million shares, the number of days required to cover the short positions stand at 13.1 days.

PB is forecasted to report earnings per share of $0.98 and a revenue of $188.38 million for the 4th Quarter of the fiscal year 2016. Prosperity Bancshares Inc (PB) declared last quarter earnings on October 26. The Financial Services company announced last quarter earnings per share of $0.99 against a consensus Street estimate of $0.99, matching the average estimate. The company posted a revenue of $194.1 million compared to an estimation of $189.6 million.

Is this a Trading Opportunity? Click here for a free Trend Analysis Report

There are currently eighteen analysts that cover Prosperity Bancshares Inc stock. Of those eighteen, five have a Buy rating, twelve have a Hold rating and one has a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $56.86.

A recent analyst activity consisted of DA Davidson downgrading their Buy rating to Neutral on October 27. On the date of report, the stock closed at $55.68.

FBR Capital upgraded their Market Perform rating to Outperform on October 11. On the date of report, the stock closed at $55.33.

Another research firm was Wedbush who initiated their coverage on the stock with Neutral rating on October 7. Wedbush fixed their price target at $54. This translates to a 11.36% downside from the last closing price. On the date of report, the stock closed at $54.9.

Company snapshot

Prosperity Bancshares, Inc. is the holding company for Prosperity Bank. The Bank attracts deposits from the general public and uses those funds to originate a variety of commercial and consumer loans. Prosperity Bank operates in the greater Houston metropolitan area and neighboring counties in Texas.

Prosperity Bancshares Inc (NYSE:PB) reaching 52-week high, short interest decreasing was last modified: November 11th, 2016 by Pat Mayfield