Prosperity Bancshares, Inc. (PB) – What Are Researchers Thinking About This Stock?

Prosperity Bancshares, Inc. (NYSE:PB) has received a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $77.55.

Several research firms have recently commented on PB. Morgan Stanley upped their price objective on shares of Prosperity Bancshares from $80.00 to $81.00 and gave the company an “underweight” rating in a report on Monday, September 28th. Benchmark initiated coverage on shares of Prosperity Bancshares in a research report on Wednesday, June 24th. They set a “hold” rating for the company. Piper Sandler increased their target price on shares of Prosperity Bancshares from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Prosperity Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Finally, Raymond James Financial upgraded shares of Prosperity Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a research report on Tuesday, October 6th.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Ned Holmes sold 600 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $74.26, for a total value of $44,556.00. Following the completion of the sale, the director directly owned 39,500 shares in the company, valued at $2,933,270. This represents a 1.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 12,700 shares of company stock worth $902,833 in the last quarter. Company insiders own 3.96% of the company’s stock.

Hedge Funds Weigh In On Prosperity Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of PB. Parkside Financial Bank & Trust lifted its position in Prosperity Bancshares by 52.0% in the second quarter. Parkside Financial Bank & Trust now owns 576 shares of the bank’s stock valued at $42,000 after buying an additional 197 shares during the last quarter. Earned Wealth Advisors LLC raised its stake in shares of Prosperity Bancshares by 6.2% in the 1st quarter. Earned Wealth Advisors LLC now owns 3,639 shares of the bank’s stock valued at $244,000 after acquiring an additional 213 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Prosperity Bancshares by 15.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,867 shares of the bank’s stock worth $124,000 after purchasing an additional 256 shares during the period. Versant Capital Management Inc boosted its position in shares of Prosperity Bancshares by 3.3% during the 2nd quarter. Versant Capital Management Inc now owns 10,921 shares of the bank’s stock worth $798,000 after purchasing an additional 348 shares during the period. Finally, GAMMA Investing LLC raised its position in Prosperity Bancshares by 33.8% in the second quarter. GAMMA Investing LLC now owns 1,990 shares of the bank’s stock valued at $145,000 after purchasing an additional 503 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Prosperity Bancshares Stock Up 0.0%

Prosperity Bancshares stock opened at $67.80 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.75 and a current ratio of 0.75. The business’s 50-day simple moving average is $70.34 and its two-hundred day simple moving average is $70.50. The company has a market cap of $6.84 billion, a PE ratio of 11.75, a PEG ratio of 0.75 and a beta of 0.66. Prosperity Bancshares has a fifty-two week low of $61.62 and a fifty-two week high of $77.20.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, July 29th. The bank reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.12. The business had revenue of $391.25 million for the quarter, compared to analyst estimates of $380.73 million. Prosperity Bancshares had a return on equity of 7.39% and a net margin of 29.95%. The company’s revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.42 earnings per share. Equities analysts anticipate that Prosperity Bancshares will post 6.46 EPS for the current year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, September 15th. This represents a $2.40 dividend on an annualized basis and a yield of 3.5%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 41.59%.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a bank holding company headquartered in Houston, Texas. Through its principal subsidiary, Prosperity Bank, the company provides a range of banking and financial services to individuals, businesses and institutional customers.

Prosperity Bank offers deposit accounts, commercial and consumer lending, mortgage and real estate loans, treasury management, cash management, online and mobile banking, and other related financial services. Its lending activities support businesses, agricultural customers, real estate projects and consumers.

Founded in 1983, Prosperity Bancshares has expanded through organic growth and acquisitions.