Sterne Agee Neutral On Prosperity Bancshares, Inc. (PRSP)

Sterne Agee has a Neutral rating on shares of Prosperity Bancshares, Inc. PRSP. In a note to clients, Sterne Agee writes, "We indicated a positive bias on PRSP shares in a Texas bank preview earlier in the week. With its higher estimates and obviously strong fundamentals we remain favorable towards the Company. In our opinion the valuation (3.8x TBV and 13.8x our FY12E) limits the amount of near-term upside; however, we view the shares as a solid holding and would add to positions if the 1Q earnings season results in a continued downdraft for the bank industry." Shares of PRSP are flat on the session, trading at $43.20 on just over 90,000 shares.