Wolfe Research analyst Bill Carcache downgraded Prosperity Bancshares (PB) to Peer Perform from Outperform without a price target The firm stock’s valuation “appears stretched” given its low- to mid-teens return on tangible common equity outlook, the analyst tells investors in a research note. The firm believes Prosperity “lacks torque” relative to other higher return-generation banks.
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Read More on PB:
- Prosperity Bancshares price target raised to $76 from $75 at Barclays
- Prosperity Bancshares reports Q3 EPS $1.34, consensus $1.31
- PB Earnings this Week: How Will it Perform?
- Prosperity Bancshares Revises CEO Employment Agreement Terms
- Prosperity Bancshares increases quarterly dividend 3.57% to 58c per share
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
