Prosperity Bancshares, Inc. (NYSE:PB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Prosperity Bancshares, Inc. (NYSE:PB) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $80.68.

Several research analysts have recently commented on PB shares. DA Davidson downgraded Prosperity Bancshares from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $80.00 to $78.00 in a research note on Tuesday, October 15th. Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday. StockNews.com cut Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, November 29th. Truist Financial cut Prosperity Bancshares from a “buy” rating to a “hold” rating and cut their target price for the stock from $81.00 to $79.00 in a research report on Friday, September 20th. Finally, Raymond James cut Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 target price for the company. in a research report on Tuesday, September 17th.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Leah Henderson sold 1,100 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $83.24, for a total value of $91,564.00. Following the completion of the transaction, the director now directly owns 7,525 shares of the company’s stock, valued at approximately $626,381. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $83.96, for a total value of $41,980.00. Following the completion of the transaction, the director now directly owns 114,315 shares of the company’s stock, valued at approximately $9,597,887.40. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,100 shares of company stock valued at $604,114 in the last ninety days. Corporate insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PB. GAMMA Investing LLC grew its stake in Prosperity Bancshares by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock worth $29,000 after buying an additional 177 shares during the last quarter. Quarry LP grew its stake in Prosperity Bancshares by 533.3% during the 2nd quarter. Quarry LP now owns 494 shares of the bank’s stock worth $30,000 after buying an additional 416 shares during the last quarter. Quest Partners LLC grew its stake in Prosperity Bancshares by 3,147.1% during the 2nd quarter. Quest Partners LLC now owns 552 shares of the bank’s stock worth $34,000 after buying an additional 535 shares during the last quarter. Headlands Technologies LLC purchased a new position in Prosperity Bancshares during the 2nd quarter worth $46,000. Finally, First Horizon Advisors Inc. grew its stake in Prosperity Bancshares by 190.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after buying an additional 534 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Prosperity Bancshares Price Performance

Prosperity Bancshares stock opened at $82.17 on Friday. Prosperity Bancshares has a one year low of $57.16 and a one year high of $86.75. The stock has a market capitalization of $7.83 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.24 and a beta of 0.92. The business’s fifty day moving average is $76.89 and its 200 day moving average is $70.26.

Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, October 23rd. The bank reported $1.34 earnings per share 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 company had revenue of $459.00 million for the quarter, compared to the consensus estimate of $299.83 million. During the same quarter in the prior year, the company earned $1.20 earnings per share. As a group, sell-side analysts expect that Prosperity Bancshares will post 5.05 EPS for the current fiscal year.

Prosperity Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.58 per share. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.56. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, December 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 49.26%.

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.