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

Shares of Prosperity Bancshares, Inc. (NYSE:PB) have earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $81.38.

A number of equities research analysts recently commented on PB shares. Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Barclays boosted their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. DA Davidson cut Prosperity Bancshares from a “buy” rating to a “neutral” rating and reduced their target price for the company from $80.00 to $78.00 in a report on Tuesday, October 15th. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Finally, UBS Group dropped their target price on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, December 26th.

Prosperity Bancshares Price Performance

PB stock opened at $79.13 on Friday. Prosperity Bancshares has a 1-year low of $57.16 and a 1-year high of $86.75. The business has a fifty day moving average price of $78.93 and a 200-day moving average price of $74.48. The stock has a market capitalization of $7.54 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.11 and a beta of 0.93.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $299.83 million. During the same period in the previous year, the company posted $1.20 EPS. As a group, analysts anticipate that Prosperity Bancshares will post 5.05 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is currently 49.26%.

Insider Activity

In other Prosperity Bancshares news, Director Leah Henderson sold 1,100 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $83.24, for a total value of $91,564.00. Following the sale, the director now directly owns 7,525 shares in the company, valued at approximately $626,381. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $81.44, for a total value of $40,720.00. Following the sale, the director now directly owns 113,815 shares in the company, valued at $9,269,093.60. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,600 shares of company stock valued at $1,196,144 over the last three months. 4.28% of the stock is owned by insiders.

Institutional Trading of Prosperity Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of PB. Blue Trust Inc. increased its position in shares of Prosperity Bancshares by 14.9% in the fourth quarter. Blue Trust Inc. now owns 987 shares of the bank’s stock valued at $71,000 after acquiring an additional 128 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after purchasing an additional 143 shares during the last quarter. M&T Bank Corp raised its stake in shares of Prosperity Bancshares by 0.3% during the 3rd quarter. M&T Bank Corp now owns 45,392 shares of the bank’s stock worth $3,272,000 after purchasing an additional 149 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Prosperity Bancshares by 3.4% in the 3rd quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock valued at $340,000 after buying an additional 153 shares during the last quarter. Finally, Tectonic Advisors LLC grew its stake in shares of Prosperity Bancshares by 3.0% in the third quarter. Tectonic Advisors LLC now owns 7,058 shares of the bank’s stock valued at $509,000 after buying an additional 206 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Company Profile

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.