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

Prosperity Bancshares, Inc. (NYSE:PB) has been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $83.71.

Several equities analysts have weighed in on the company. StockNews.com downgraded Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price objective on Prosperity Bancshares from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, May 5th. Morgan Stanley cut their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Hovde Group reduced their target price on shares of Prosperity Bancshares from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Stephens lifted their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th.

Insider Activity

In related news, Director Ned S. Holmes sold 500 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $73.62, for a total value of $36,810.00. Following the transaction, the director now directly owns 105,315 shares of the company’s stock, valued at approximately $7,753,290.30. This trade represents a 0.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 5,500 shares of company stock valued at $385,225 in the last ninety days. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Prosperity Bancshares

A number of institutional investors have recently added to or reduced their stakes in PB. Smartleaf Asset Management LLC raised its holdings in shares of Prosperity Bancshares by 487.5% in 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 period. Jones Financial Companies Lllp raised its holdings in 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 during the period. UMB Bank n.a. raised its holdings in Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after buying an additional 300 shares during the period. GAMMA Investing LLC lifted its position in Prosperity Bancshares by 20.4% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after buying an additional 143 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its stake in Prosperity Bancshares by 349.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank’s stock worth $69,000 after buying an additional 713 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Trading Up 0.2%

Shares of NYSE PB opened at $71.27 on Monday. The company’s 50-day moving average price is $68.79 and its 200 day moving average price is $75.09. Prosperity Bancshares has a 52 week low of $57.16 and a 52 week high of $86.76. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.94 and a beta of 0.70.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.35 by $0.02. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The business had revenue of $306.68 million for the quarter, compared to analyst estimates of $307.17 million. During the same period in the prior year, the business earned $1.18 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, research analysts expect that Prosperity Bancshares will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.58 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.26%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 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.