Barclays analyst Jared Shaw lowered the firm’s price target on Prosperity Bancshares (PB) to $75 from $83 and keeps an Equal Weight rating on the shares post the Q4 report. The company’s acquisition of Stellar Bancorp “steals the spotlight” and its longer expected earn-back weighed on shares, the analyst tells investors in a research note.
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Read More on PB:
- Prosperity Bancshares downgraded to Neutral from Overweight at Piper Sandler
- Stellar Bancorp downgraded to Market Perform from Outperform at Raymond James
- Prosperity Bancshares Earnings Call Flags Growth, M&A Upside
- Prosperity Bancshares reports Q4 EPS $1.49, consensus $1.45
- Prosperity Bancshares to Acquire Stellar Bancorp in Merger