Charles Schwab (NYSE:SCHW), Foot Locker (NYSE:FL), Finisar (NASDAQ:FNSR), Goldman Sachs (NYSE:GS), H&R Block (NYSE:HRB) and Prosperity Bancshares (NASDAQ:PRSP) estimates adjusted by analysts.
Goldman Sachs raised its estimates on Charles Schwab (SCHW) through 2013. They have a "Neutral" rating and a price target of $14 on the company.
UBS (NYSE:UBS) raised its estimates on Foot Locker (FL). They have a "Neutral" rating and price target of $22 on the company.
Morgan Stanley (NYSE:MS) boosted its estimates on Finisar (FNSR) through 2014. They have an "Overweight" rating and price target of $22 on the company.
Credit Suisse (NYSE:CS) lowered its estimates on Goldman Sachs (GS) through 2013. They have an "Outperform" rating and price target of $170 on the company.
Oppenheimer cut its estimates on H&R Block (HRB) through 2012. They reiterated a "Perform" rating on the company.
Sterne Agee lowered it estimates on Prosperity Bancshares (PRSP) through 2013. They cited valuation as the catalyst behind the call. They have a "Neutral" rating on the company.
Showing posts with label Prosperity Bancshares. Show all posts
Showing posts with label Prosperity Bancshares. Show all posts
Friday, September 2, 2011
Tuesday, July 26, 2011
Qiagen (QGEN) (BTN) (CE) (PRSP) (CSC) (CX) Downgraded
Qiagen (NASDAQ: QGEN), Ballantyne Strong, Inc. (NYSE: BTN), Celanese Co. (NYSE: CE), Prosperity Bancshares, Inc. (NASDAQ: PRSP), Computer Sciences (NYSE: CSC) and Cemex SAB de CV (NYSE: CX) downgraded by analysts.
Qiagen (QGEN) was downgraded by Wedbush from an “Outperform” rating to a “Neutral” rating. They have a price target of $19.00 on the company, down from $24.00.
Ballantyne Strong, Inc. (BTN) was downgraded by Merriman Curhan Ford from a “Buy” rating to a “Neutral” rating.
Celanese Co. (CE) was downgraded by Macquarie from an “Outperform” rating to a “Neutral” rating.
Prosperity Bancshares, Inc. (PRSP) was downgraded by Macquarie from an “Outperform” rating to a “Neutral” rating.
Computer Sciences (CSC) was downgraded by Goldman Sachs (NYSE:GS) from a “Buy” rating to a “Neutral” rating.
Cemex SAB de CV (CX) was downgraded by Citigroup (NYSE:C) from a “Buy” rating to a “Hold” rating. They have a price target of $9.50 on the company.
Qiagen (QGEN) was downgraded by Wedbush from an “Outperform” rating to a “Neutral” rating. They have a price target of $19.00 on the company, down from $24.00.
Ballantyne Strong, Inc. (BTN) was downgraded by Merriman Curhan Ford from a “Buy” rating to a “Neutral” rating.
Celanese Co. (CE) was downgraded by Macquarie from an “Outperform” rating to a “Neutral” rating.
Prosperity Bancshares, Inc. (PRSP) was downgraded by Macquarie from an “Outperform” rating to a “Neutral” rating.
Computer Sciences (CSC) was downgraded by Goldman Sachs (NYSE:GS) from a “Buy” rating to a “Neutral” rating.
Cemex SAB de CV (CX) was downgraded by Citigroup (NYSE:C) from a “Buy” rating to a “Hold” rating. They have a price target of $9.50 on the company.
Tuesday, January 25, 2011
Prosperity Bancshares (NASDAQ:PRSP) EPS Outlook Better on NIM, Loan Growth
Citing a modest expansion of NIM and loan growth for Prosperity Bancshares (NASDAQ:PRSP), FBR boosted their full year EPS on the company.
FBR says, "We are raising our FY11 EPS estimate to $2.89 from $2.83, based on our improved outlook for loan growth and modest NIM expansion, and reducing our FY12 EPS estimate from $3.20 to $3.10. Better-than-expected loan growth advances the company toward its goal of growing loans $1B by EOY 2012. To achieve this goal, we expect that PRSP will need to prevail as an acquirer in a hotly contested Texas bank M&A market, which is being targeted by both in-state and out-of-state banks. Last week's $1B sale of Sterling Bancshares (Nasdaq: SBIB)(Market Perform) to Comerica (NYSE: CMA)(Market Perform) for 3.7x TBV (loan mark adjusted) sets the benchmark for Texas M&A and may help jump start M&A activity in Texas while positively impacting Prosperity's valuation."
FBR Capital maintains a "Market Perform" rating on Prosperity Bancshares (NASDAQ:PRSP), which closed Monday at $41.63, up $0.83, or 2.11 percent. FBR increased their price target on Prosperity from $37 to $44.
FBR says, "We are raising our FY11 EPS estimate to $2.89 from $2.83, based on our improved outlook for loan growth and modest NIM expansion, and reducing our FY12 EPS estimate from $3.20 to $3.10. Better-than-expected loan growth advances the company toward its goal of growing loans $1B by EOY 2012. To achieve this goal, we expect that PRSP will need to prevail as an acquirer in a hotly contested Texas bank M&A market, which is being targeted by both in-state and out-of-state banks. Last week's $1B sale of Sterling Bancshares (Nasdaq: SBIB)(Market Perform) to Comerica (NYSE: CMA)(Market Perform) for 3.7x TBV (loan mark adjusted) sets the benchmark for Texas M&A and may help jump start M&A activity in Texas while positively impacting Prosperity's valuation."
FBR Capital maintains a "Market Perform" rating on Prosperity Bancshares (NASDAQ:PRSP), which closed Monday at $41.63, up $0.83, or 2.11 percent. FBR increased their price target on Prosperity from $37 to $44.
Wednesday, November 24, 2010
Sterling (Nasdaq:SBIB), Texas Capital (Nasdaq:TCBI), Cullen/Frost Bankers (NYSE:CFR), Prosperity (Nasdaq:PRSP): FBR Takeaways
Sterling Bancshares (Nasdaq:SBIB), Texas Capital Bancshares (Nasdaq:TCBI), Cullen/Frost Bankers (NYSE:CFR) and Prosperity Bancshares (Nasdaq:PRSP), all financial institutions based in Texas, were visited by FBR Capital, and they give their takeaway on the group.
FBR said, "In summary, the Texas bank management teams we visited had a generally positive outlook for the Texas economy and growth opportunities, positioning themselves to take advantage when loan demand returns. Compared to most regional and community banks that face both high credit costs and NIM pressure, the Texas banks we met with, for the most part, were primarily concerned with NIM pressure. We continue to believe the Texas-based banks face a better macro environment than most other banks in our coverage universe, given the stronger underlying Texas economy—faster job growth and more stable CRE prices. Most managers felt loan demand had bottomed and was slowly improving, and across the board, the banks have hired additional loan officers in preparation for increased lending activity. All management teams noted increased competition versus six months ago, but agreed it was on rate, not structure, and only for the highest-quality borrowers; the large, out-of-state banks continue to serve as meaningful sources of customers. Management teams noted good investor demand for distressed assets and prices that were generally improving. Most managers expect M&A to resume in 2H11; however, consensus was that price expectations of small banks remain too high in light of the looming challenges—reduced NSF and interchange income, increased regulation, and higher capital levels will all conspire to reduce long-term profitability, therefore historical M&A multiples are no longer justifiable.
"We continue to believe Sterling Bancshares (Outperform) has the most upside given its valuation; however, Texas Capital Bancshares (Market Perform) possesses a differentiated business model, and at a more attractive share price, we would revisit our rating. Cullen/Frost Bankers (Market Perform) and Prosperity Bancshares' (Market Perform) valuations, along with NIM pressure, keep us on the sidelines, but we believe are the most likely to be involved in M&A as acquirers."
Sterling Bancshares closed at $6.01 Tuesday, remaining level from the prior trading session. Texas Capital Bancshares closed at $18.76, losing $0.05, or 0.27 percent. Cullen/Frost Bankers was down to $54.20, dropping by $0.28, or 0.51 percent. Prosperity Bancshares (Nasdaq:PRSP) ended the day at $32.60, losing $0.10, or 0.31 percent.
FBR said, "In summary, the Texas bank management teams we visited had a generally positive outlook for the Texas economy and growth opportunities, positioning themselves to take advantage when loan demand returns. Compared to most regional and community banks that face both high credit costs and NIM pressure, the Texas banks we met with, for the most part, were primarily concerned with NIM pressure. We continue to believe the Texas-based banks face a better macro environment than most other banks in our coverage universe, given the stronger underlying Texas economy—faster job growth and more stable CRE prices. Most managers felt loan demand had bottomed and was slowly improving, and across the board, the banks have hired additional loan officers in preparation for increased lending activity. All management teams noted increased competition versus six months ago, but agreed it was on rate, not structure, and only for the highest-quality borrowers; the large, out-of-state banks continue to serve as meaningful sources of customers. Management teams noted good investor demand for distressed assets and prices that were generally improving. Most managers expect M&A to resume in 2H11; however, consensus was that price expectations of small banks remain too high in light of the looming challenges—reduced NSF and interchange income, increased regulation, and higher capital levels will all conspire to reduce long-term profitability, therefore historical M&A multiples are no longer justifiable.
"We continue to believe Sterling Bancshares (Outperform) has the most upside given its valuation; however, Texas Capital Bancshares (Market Perform) possesses a differentiated business model, and at a more attractive share price, we would revisit our rating. Cullen/Frost Bankers (Market Perform) and Prosperity Bancshares' (Market Perform) valuations, along with NIM pressure, keep us on the sidelines, but we believe are the most likely to be involved in M&A as acquirers."
Sterling Bancshares closed at $6.01 Tuesday, remaining level from the prior trading session. Texas Capital Bancshares closed at $18.76, losing $0.05, or 0.27 percent. Cullen/Frost Bankers was down to $54.20, dropping by $0.28, or 0.51 percent. Prosperity Bancshares (Nasdaq:PRSP) ended the day at $32.60, losing $0.10, or 0.31 percent.
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