Prosperity Bancshares Inc Stock Forecast
Prosperity Bancshares Inc stock upgraded from Strong Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 17, 2024)
The Prosperity Bancshares Inc stock price gained 0.270% on the last trading day (Wednesday, 17th Apr 2024), rising from $59.23 to $59.39. During the last trading day the stock fluctuated 1.28% from a day low at $59.37 to a day high of $60.13. The price has fallen in 7 of the last 10 days and is down by -5.55% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 40 thousand more shares were traded than the day before. In total, 394 thousand shares were bought and sold for approximately $23.40 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $59.18 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.68% during the next 3 months and, with a 90% probability hold a price between $56.41 and $62.07 at the end of this 3-month period.
PB Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.270%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Prosperity Bancshares Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $60.77 and $62.44. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Prosperity Bancshares Inc stock
Prosperity Bancshares Inc finds support from accumulated volume at $59.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.760 between high and low, or 1.28%. For the last week, the stock has had daily average volatility of 1.85%.
Prosperity Bancshares Inc is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $55.57 (-6.44%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 23 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (PB) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Prosperity Bancshares Inc to open at $59.63, and during the day (based on 14 day Average True Range), to move between $58.00 and $60.78, which gives a possible trading interval of +/-$1.39 (+/-2.34%) up or down from last closing price. If Prosperity Bancshares Inc takes out the full calculated possible swing range there will be an estimated 4.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $59.23 (0.27%) than the resistance at $62.06 (4.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Prosperity Bancshares Inc will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.15. We will update the financials statements for Prosperity Bancshares Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.62% in the first trading day after earnings release.
Is Prosperity Bancshares Inc stock A Buy?
Prosperity Bancshares Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: -0.997 Hold/Accumulate Upgraded
Predicted Opening Price for Prosperity Bancshares Inc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $59.63 ( 0.404%) | $59.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.39 | 1.68 % | |
| R2 | 60.10 | 1.19 % | ||
| R1 | 59.92 | 0.89 % | ||
| Current price: | 59.39 | |||
| Support | S1 | 59.34 | -0.0847 % | |
| S2 | 59.16 | -0.387 % | ||
| S3 | 58.87 | -0.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.93 | 9.33 % | |
| R2 | 63.44 | 6.82 % | ||
| R1 | 62.06 | 4.50 % | ||
| Current price | 59.39 | |||
| Support | S1 | 59.23 | -0.269% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
PB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.560 | 0.87% |
| 2 | Oct 18, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.560 | 0.82% |
| 3 | Jul 19, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.550 | 1.03% |
| 4 | Apr 19, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.550 | 0.95% |
| 5 | Jan 18, 2023 | Mar 14, 2023 | Apr 03, 2023 | $0.550 | 0.90% |
FAQ
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