Prosperity Bancshares downgraded to Peer Perform from Outperform at Wolfe

Wolfe Research analyst Bill Carcache downgraded Prosperity Bancshares (PB) to Peer Perform from Outperform without a price target The firm stock’s valuation “appears stretched” given its low- to mid-teens return on tangible common equity outlook, the analyst tells investors in a research note. The firm believes Prosperity “lacks torque” relative to other higher return-generation banks.