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Prosperity Bancshares Inc. Message Board

  • poorboy7 poorboy7 Jun 8, 1998 9:01 PM Flag

    Hang tough

    I've loved this stock since I first stumbled onto
    it about a year ago. I also keep wondering why it
    hovers around the mid 30 range and occasssionally breaks
    the 40 barrier. I bought this stock as a long term
    play but I must admit it baffles me at these levels
    and volumes. My gut feel is that 2nd quarter earnings
    should meet or exceed expectations and once again it
    will break the 40 barrier, the tough part is
    sustaining the 40 range. If a US market correction should
    take place anytime soon a price of below 30 would
    signal a large buy from me (I already own 1000 shares).
    So my advice is hang tough! This is a great stock
    and as we all have seen this stock is somewhat
    volatile at times. Great Stock to have in your long term

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    • Maybe the drop in PB's price is directly
      correlated to the value of Latin American currencies? I
      understand in the last few months several Latin American
      currencies have fallen in value versus the U.S. dollar by
      10% to 20%. PB is off about 15% since it hit $40 a
      few months ago. Any thoughts?

      • 1 Reply to dozer96
      • Depending on the composition of Panamco's debt in
        US dollars vs. local currencies, and keeping in mind
        that as the dollar value of operating profits falls
        with steeper exchange rates, so do operating costs...

        I don't have nearly enough information to figure it
        out, but I am pretty sure that a 15% drop in local
        currency value vs. the US dollar should not become a 15%
        drop in its stock price. I think we need a real pro's
        contribution in order to be a little clearer on this issue.

    • brazil

56.16+0.59(+1.06%)1:37 PMEDT