Oppenheimer Impressed With PRSP's Track Record

Oppenheimer has published a research report on Prosperity Bancshares, Inc. PRSP after taking meetings with company management. In the report, Oppenheimer writes "Prosperity's track record in growing net income and EPS is impressive with the company's five-year EPS growth rate 9% and earnings up 9.5% year-to-date. Unfortunately, we feel it will be difficult for the company to show that type of earnings growth in 2011. With the stock now trading at 13x our 2012 estimate and near-term earnings growth expected to be relatively flat, we are maintaining our Perform rating." Prosperity Bancshares closed yesterday at $38.58.