Recent Research Analysts’ Ratings Changes for Prosperity Bancshares (PB)

Several brokerages have updated their recommendations and price targets on shares of Prosperity Bancshares (NYSE: PB) in the last few weeks:

• 11/12/2024 – Prosperity Bancshares was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/24/2024 – Prosperity Bancshares had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $77.00 price target on the stock.
• 10/24/2024 – Prosperity Bancshares had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $90.00 price target on the stock.
• 10/24/2024 – Prosperity Bancshares had its price target raised by analysts at Barclays PLC from $75.00 to $76.00. They now have an “equal weight” rating on the stock.
• 10/15/2024 – Prosperity Bancshares was downgraded by analysts at DA Davidson from a “buy” rating to a “neutral” rating. They now have a $78.00 price target on the stock, down previously from $80.00.
• 9/27/2024 – Prosperity Bancshares had its price target raised by analysts at Barclays PLC from $70.00 to $75.00. They now have an “equal weight” rating on the stock.
• 9/24/2024 – Prosperity Bancshares was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating. They now have a $90.00 price target on the stock, up previously from $75.00.
• 9/20/2024 – Prosperity Bancshares was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating. They now have a $79.00 price target on the stock, down previously from $81.00.
• 9/17/2024 – Prosperity Bancshares was downgraded by analysts at Raymond James from a “strong-buy” rating to an “outperform” rating. They now have a $80.00 price target on the stock.

Prosperity Bancshares Trading Up 0.9 %

NYSE:PB opened at $82.98 on Wednesday. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.19 and a beta of 0.89. Prosperity Bancshares, Inc. has a 1-year low of $54.53 and a 1-year high of $83.50. The business’s fifty day moving average price is $73.20 and its 200 day moving average price is $67.97.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. The firm had revenue of $459.00 million for the quarter, compared to the consensus estimate of $299.83 million. During the same quarter in the previous year, the company posted $1.20 earnings per share. Equities analysts forecast that Prosperity Bancshares, Inc. will post 5.05 earnings per share for the current year.

Prosperity Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Friday, December 13th. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.56. Prosperity Bancshares’s dividend payout ratio is 47.56%.

Institutional Trading of Prosperity Bancshares

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Prosperity Bancshares by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock valued at $29,000 after purchasing an additional 177 shares during the period. Quarry LP raised its holdings in Prosperity Bancshares by 533.3% in the 2nd quarter. Quarry LP now owns 494 shares of the bank’s stock valued at $30,000 after acquiring an additional 416 shares in the last quarter. Quest Partners LLC raised its holdings in Prosperity Bancshares by 3,147.1% in the 2nd quarter. Quest Partners LLC now owns 552 shares of the bank’s stock valued at $34,000 after acquiring an additional 535 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Prosperity Bancshares in the 2nd quarter valued at approximately $43,000. Finally, Headlands Technologies LLC acquired a new position in Prosperity Bancshares in the 2nd quarter valued at approximately $46,000. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; term loans and lines of credit; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.