Prosperity Bancshares, Inc. (NYSE:PB) Receives Consensus Recommendation of “Hold” from Analysts

Prosperity Bancshares, Inc. (NYSE:PB) has been assigned a consensus recommendation of “Hold” from the fifteen analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $78.9231.

A number of equities analysts recently issued reports on PB shares. TD Cowen reissued a “buy” rating on shares of Prosperity Bancshares in a report on Wednesday, January 7th. Morgan Stanley raised their price objective on shares of Prosperity Bancshares from $80.00 to $91.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Janney Montgomery Scott lowered Prosperity Bancshares from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 3rd. Hovde Group lifted their target price on shares of Prosperity Bancshares from $75.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Finally, Citigroup reiterated a “neutral” rating on shares of Prosperity Bancshares in a report on Monday, February 2nd.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $66.25, for a total transaction of $33,125.00. Following the transaction, the director directly owned 79,415 shares of the company’s stock, valued at $5,261,243.75. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 13,200 shares of company stock valued at $922,415 over the last ninety days. Insiders own 3.96% of the company’s stock.

Institutional Trading of Prosperity Bancshares

Several hedge funds have recently added to or reduced their stakes in PB. Mather Group LLC. bought a new position in shares of Prosperity Bancshares during the 3rd quarter worth about $26,000. Community Bank N.A. bought a new stake in shares of Prosperity Bancshares in the third quarter valued at about $29,000. Danske Bank A S bought a new stake in shares of Prosperity Bancshares in the third quarter valued at about $40,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Prosperity Bancshares during the third quarter worth about $42,000. Finally, Employees Retirement System of Texas acquired a new stake in Prosperity Bancshares during the second quarter worth about $48,000. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Stock Down 0.3%

PB opened at $66.18 on Thursday. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 0.93 and a beta of 0.66. Prosperity Bancshares has a fifty-two week low of $61.06 and a fifty-two week high of $77.20. The company’s 50-day moving average price is $70.33 and its 200 day moving average price is $68.62.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 28th. The bank reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. The company had revenue of $317.73 million during the quarter, compared to the consensus estimate of $319.30 million. Prosperity Bancshares had a return on equity of 7.11% and a net margin of 31.22%.Prosperity Bancshares’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 earnings per share. Research analysts anticipate that Prosperity Bancshares will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. Prosperity Bancshares’s payout ratio is presently 41.88%.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.