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PB Prosperity BancsharesAnalyst actions

StoneX Upgrades Prosperity Bancshares to Buy; Five Other Firms Keep Ratings

Stephens & Co. raised its target to $87 from $85, and Piper Sandler cut its target to $78 from $80.

By Zintick Team · Editor: Kratik Mehta
Published

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Photo: Head over Heels/Shutterstock.com

Key points

  • StoneX upgraded Prosperity Bancshares to buy from hold with an $85 target
  • Stephens & Co. raised its target to $87 from $85; Piper Sandler cut to $78 from $80
  • Coverage median target before Thursday was $78
  • Shares rose 2.0% Thursday to $72.54; S&P 500 ETF fell 0.4%

Six firms acted on Prosperity Bancshares Inc (NYSE: PB) on Thursday, led by StoneX, which upgraded the stock to buy from hold with an $85 price target.

The other five firms kept their ratings. Piper Sandler kept its neutral rating and cut its target to $78 from $80. Stephens & Co. kept its overweight rating and raised its target to $87 from $85. TD Cowen kept its buy rating and raised its target to $80 from $78. Citigroup kept its neutral rating and raised its target to $78 from $77. RBC Capital kept its sector perform rating and raised its target to $79 from $77 after the close.

Where coverage stood

Before Thursday, four of the 11 firms that rated Prosperity Bancshares in the past year rated it positive, five rated it neutral and two rated it negative. Among the 10 firms with targets, the median was $78, ranging from $70 to $81.

Price and company scale

The stock closed at $71.12 on Wednesday, Oct. 28, after rising 7.4% over the 20 sessions to that close. On Thursday it closed at $72.54, up 2.0% in the session, while the S&P 500 ETF fell 0.4%.

For the last fiscal year, net income was $542.8 million, up 13%, and diluted earnings per share were $5.72, compared with $5.05 a year earlier. In the latest reported quarter, ended June 30, revenue was $391.3 million, up 26%, and net income was $168.6 million, up 25%.

The company filed a Form 8-K on Wednesday, Oct. 28, and the analyst actions came the day after that filing.

Sources

Written with AI from analyst rating changes, SEC filings and market data, and checked against those sources before publishing. Our editorial standards.

PB page →

Filings, figures and price history are on the Prosperity Bancshares page.