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Prosperity Bancshares, Inc. (PRSP) Maintains A Sector Perform Rating
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Analyst Ratings
Posted on 02/09/10 at 5:44pm by Ed Liston
Analysts at RBC Capital Markets have maintained a Sector Perform rating for Prosperity Bancshares, Inc. (NASDAQ: PRSP).
The company acquired $500 million in deposits, $100 million in loans and 19 branches from First Bank, a state-chartered bank based in Missouri. Analysts expect the transaction to be completed by the second quarter of 2010.
According to analysts, the deal is consistent with Prosperity management’s goal of opportunistically growing the core Texas franchise. Analysts believe that the management at Prosperity Bancshares, Inc. is capable of finding acquisition targets, executing the transaction, and then making them accretive through reductions in risk and efficient management.
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