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

Prosperity Bancshares, Inc. (NYSE:PB) has been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. Six 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 objective among analysts that have issued ratings on the stock in the last year is $82.88.

PB has been the topic of a number of research analyst reports. Stephens increased 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. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Tuesday, January 7th. Barclays upped their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. UBS Group cut their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, December 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th.

Prosperity Bancshares Price Performance

Shares of NYSE:PB opened at $78.47 on Wednesday. The company’s fifty day moving average price is $77.73 and its 200-day moving average price is $75.80. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 0.98 and a beta of 0.94. Prosperity Bancshares has a one year low of $57.16 and a one year high of $86.75.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. As a group, equities research analysts expect that Prosperity Bancshares will post 5.83 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.58 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 2.96%. Prosperity Bancshares’s dividend payout ratio is 45.85%.

Insider Transactions at Prosperity Bancshares

In related news, Director Leah Henderson sold 1,100 shares of the stock in a transaction dated Friday, November 22nd. The shares were 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 in the company, valued at $626,381. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $78.30, for a total transaction of $39,150.00. Following the completion of the transaction, the director now owns 106,815 shares of the company’s stock, valued at approximately $8,363,614.50. The trade was a 0.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,100 shares of company stock valued at $1,232,559. Company insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PB. Vanguard Group Inc. increased its stake in Prosperity Bancshares by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,780,006 shares of the bank’s stock valued at $736,923,000 after purchasing an additional 44,567 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Prosperity Bancshares by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,586,260 shares of the bank’s stock valued at $345,575,000 after purchasing an additional 48,304 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Prosperity Bancshares by 1.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,342,047 shares of the bank’s stock valued at $176,473,000 after purchasing an additional 32,917 shares in the last quarter. Geode Capital Management LLC increased its stake in Prosperity Bancshares by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank’s stock valued at $123,162,000 after purchasing an additional 15,309 shares in the last quarter. Finally, Snyder Capital Management L P increased its stake in Prosperity Bancshares by 7.3% during the 4th quarter. Snyder Capital Management L P now owns 1,220,977 shares of the bank’s stock valued at $92,001,000 after purchasing an additional 83,488 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

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.