Sanford C. Bernstein Downgrades Prosperity Bancshares (PB) to Underperform

Prosperity Bancshares, Inc. (NYSE:PB) – Investment analysts at Wedbush increased their Q4 2019 earnings per share estimates for Prosperity Bancshares in a report released on Tuesday, June 18th. Wedbush analyst P. Winter now expects that the bank will earn $1.22 per share for the quarter, up from their previous estimate of $1.21.

Equities analysts expect that Prosperity Bancshares, Inc. (NYSE:PB) will report sales of $186.94 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Prosperity Bancshares’ earnings, with the lowest sales estimate coming in at $186.10 million and the highest estimate coming in at $188.20 million.

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JPMorgan Chase & Co. lessened its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 32.6% during the 1st quarter, HoldingsChannel reports. The firm owned 154,620 shares of the bank’s stock after selling 74,854 shares during the period. JPMorgan Chase & Co.’s holdings in Prosperity Bancshares were worth $10,678,000 as of its most recent SEC [.]

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New York State Common Retirement Fund reduced its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 1.2% during the 1st quarter, according to the company in its most recent form 13f filing with the Securities and Exchange Commission. The institutional investor owned 187,202 shares of the bank’s stock after selling 2,194 shares during the period.

Sanford C. Bernstein lowered prosperity bancshares from a "mkt perform" rating to an "underperform" rating in a research note on Tuesday, May 28th. Raymond James upgraded Prosperity Bancshares from an "underperform" rating to a "market perform" rating and set a $62.71 price target for the company in a research note on Tuesday, June 18th.

Wall Street analysts expect that Prosperity Bancshares, Inc. (NYSE:PB) will announce sales of $187.67 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Prosperity Bancshares’ earnings, with the lowest sales estimate coming in at $.

Geode Capital Management LLC boosted its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 8.1% in the 4th quarter, HoldingsChannel reports. The fund owned 652,626 shares of the bank’s.

Vote "Outperform" if you believe Sanford C. Bernstein’s recommendations will outperform the S&P 500 over the long term. vote "Underperform" if you believe Sanford C. Bernstein’s recmomendations will underperform the S&P 500 over the long term.