Prosperity Bancshares (NYSE:PB) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Prosperity Bancshares (NYSE:PB) from a hold rating to a sell rating in a research note released on Monday.

A number of other research analysts have also weighed in on PB. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research report on Tuesday, January 7th. Stephens increased their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. UBS Group decreased their target price on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Finally, Raymond James upped their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $82.88.

Prosperity Bancshares Stock Down 0.8 %

Shares of NYSE PB opened at $76.13 on Monday. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. The company’s 50-day simple moving average is $77.45 and its 200-day simple moving average is $76.26. Prosperity Bancshares has a 52-week low of $57.16 and a 52-week high of $86.75.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. Equities research analysts anticipate that Prosperity Bancshares will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.05%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 45.85%.

Insider Buying and Selling at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.04, for a total value of $41,520.00. Following the sale, the director now owns 112,815 shares of the company’s stock, valued at $9,368,157.60. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harrison Stafford II sold 4,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $80.07, for a total value of $320,280.00. Following the transaction, the director now owns 107,137 shares in the company, valued at $8,578,459.59. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,500 shares of company stock valued at $752,665 over the last 90 days. 4.28% of the stock is owned by insiders.

Institutional Trading of Prosperity Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Prosperity Bancshares by 0.5% in the fourth 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 boosted its position in Prosperity Bancshares by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,586,260 shares of the bank’s stock valued at $345,575,000 after buying an additional 48,304 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Prosperity Bancshares by 1.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,342,047 shares of the bank’s stock worth $176,473,000 after acquiring an additional 32,917 shares during the period. Geode Capital Management LLC raised its stake in shares of Prosperity Bancshares by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank’s stock valued at $123,162,000 after acquiring an additional 15,309 shares in the last quarter. Finally, Snyder Capital Management L P boosted its holdings in Prosperity Bancshares by 7.3% in the fourth 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 during the period. 80.69% of the stock is currently owned by hedge funds and other 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.