Prosperity Bancshares, Inc. (NYSE:PB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Prosperity Bancshares, Inc. (NYSE:PB) have received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $83.23.

Several equities analysts recently weighed in on PB shares. StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, April 24th. Raymond James increased their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Morgan Stanley decreased their price objective on Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada cut their target price on Prosperity Bancshares from $85.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. Finally, Hovde Group lowered their price target on Prosperity Bancshares from $90.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, April 25th.

Insider Transactions at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $78.30, for a total transaction of $39,150.00. Following the sale, the director now directly owns 106,815 shares of the company’s stock, valued at $8,363,614.50. The trade was a 0.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 5,500 shares of company stock valued at $390,340 over the last three months. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Prosperity Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its position in shares of Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after purchasing an additional 312 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Prosperity Bancshares by 368.5% in the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock valued at $39,000 after buying an additional 409 shares in the last quarter. UMB Bank n.a. increased its holdings in Prosperity Bancshares by 102.7% during the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC raised its position in Prosperity Bancshares by 20.4% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after acquiring an additional 143 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd lifted its stake in Prosperity Bancshares by 349.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank’s stock valued at $69,000 after acquiring an additional 713 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Stock Performance

NYSE:PB opened at $70.00 on Monday. The stock’s fifty day moving average price is $69.36 and its two-hundred day moving average price is $75.18. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 0.94 and a beta of 0.70. Prosperity Bancshares has a 52-week low of $57.16 and a 52-week high of $86.76.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.02. The business had revenue of $306.68 million for the quarter, compared to analyst estimates of $307.17 million. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 earnings per share. On average, equities analysts predict that Prosperity Bancshares will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares’s dividend payout ratio is 44.19%.

About Prosperity Bancshares

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.