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According to Morgan Keegan, Prosperity Bancshares
PB price target is raised to $44.
Morgan Keegan said that PB announced the acquisition of western-TX based American State Financial, adding $3.1 billion in assets, $1.2 billion in loans, and $2.5 billion in deposits (representing 31% of Prosperity's asset base). “We are raising our estimates to $3.10 (from $3.05) in FY12 and $3.40 (from $3.15) in FY13, implying 8% accretion to FY13 EPS.”
Prosperity Bancshares closed yesterday at $43.54
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