Prosperity Banchares: Oil Exposure May Cause Problems [Seeking Alpha]
Prosperity Bancshares, Inc. (PB)
Last prosperity bancshares, inc. earnings: 4/29 06:30 am
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US:NYSE Investor Relations:
prosperitybankusa.com/press.aspx
Company Research
Source: Seeking Alpha
Summary Earnings are expected to grow this year due to higher margins on the back of the merger last year. Organic loan growth is also expected to drive earnings. Oil price decline and COVID-19 are expected to increase provisions charge. Due to near-term risks, a neutral rating on the stock is appropriate. Earnings of Prosperity Bancshares, Inc ( PB Oil and Gas Exposure Puts Earnings at Risk PB had $698.3 million worth of oil and gas sector related loans at the end of December 2019, representing around 4.0% of total loans. This material exposure puts the company at risk of defaults in the oil and gas sector following the sharp plunge in international crude oil prices. It appears that OPEC and its allies may take some time to reach an agreement on oil output, if such an agreement is reached at all; hence, further decline in oil price cannot be ruled out. I’m expecting the price of WTI to average in the range of $27 to $30 a barrel in the next six months, which means that a number of PB
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PB
News
- Prosperity Bancshares, Inc. (NYSE: PB) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Prosperity Bancshares, Inc. (NYSE: PB) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Prosperity Bancshares, Inc. (NYSE: PB) had its "sector perform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $77.00 price target on the stock.MarketBeat
- Prosperity Bancshares Q3 Earnings Beat on Higher NII, Stock Up 1% [Yahoo! Finance]Yahoo! Finance
- Prosperity Bancshares, Inc. (NYSE: PB) had its "outperform" rating re-affirmed by analysts at Wedbush. They now have a $90.00 price target on the stock.MarketBeat
PB
Earnings
- 10/23/24 - Beat
PB
Sec Filings
- 11/20/24 - Form 4
- 11/19/24 - Form 4
- 11/18/24 - Form 144
- PB's page on the SEC website