Prosperity Bancshares (PB) is Initiated by JP Morgan to Underweight

Prosperity Bancshares (PB) is Initiated by JP Morgan to Underweight , according to the research report released to the investors. The shares recommendation by the Brokerage Firm was released on Jan-5-2016.

Prosperity Bancshares Inc. has dropped 1.49% during the last 3-month period . Year-to-Date the stock performance stands at -11.67%.

Prosperity Bancshares, Inc. (NYSE:PB) has lost 2.62% during the past week and dropped 11.27% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 1.81%. Prosperity Bancshares, Inc. (NYSE:PB) has underperformed the index by 9.2% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Shares of Prosperity Bancshares, Inc. (NYSE:PB) ended Thursday session in red amid volatile trading. The shares closed down 0.85 points or 1.75% at $47.86 with 301,476 shares getting traded. Post opening the session at $48.54, the shares hit an intraday low of $47.85 and an intraday high of $49.25 and the price vacillated in this range throughout the day. The company has a market cap of $3,352 million and the number of outstanding shares have been calculated to be 70,030,090 shares. The 52-week high of Prosperity Bancshares, Inc. (NYSE:PB) is $59.97 and the 52-week low is $43.76.

Currently the company Insiders own 5.96% of Prosperity Bancshares, Inc. shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -7.78% . Institutional Investors own 74.01% of Prosperity Bancshares, Inc. shares. During last six month period, the net percent change held by insiders has seen a change of -7.73%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Prosperity Bancshares Inc, Steelhammer Robert H had sold 5,000 shares worth of $232,900 in a transaction dated December 18, 2015. In this transaction, 5,000 shares were sold at $46.58 per share.

Prosperity Bancshares, Inc. is a financial holding company. The Company operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a broad line of financial products and services to small and medium-sized businesses and consumers. The Company added a net of two banking centers in Tyler, TX in connection with its acquisition of East Texas Financial Services (East Texas) on January 1, 2013, after consolidations. In April 2014, the Company announced that it has completed the merger of F&M Bancorporation Inc. (FMBC) with and into Prosperity and merger of FMBCs wholly owned subsidiary, The F&M Bank & Trust Company (F&M Bank).