Shares of Prosperity Bancshares, Inc. (NYSE:PB) have earned an average recommendation of “Hold” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $73.95.
A number of research analysts recently weighed in on the company. Stephens set a $74.00 price target on Prosperity Bancshares and gave the stock a “hold” rating in a research note on Monday, June 17th. Sanford C. Bernstein downgraded Prosperity Bancshares from a “mkt perform” rating to an “underperform” rating in a research note on Tuesday, May 28th. Raymond James raised Prosperity Bancshares from an “underperform” rating to a “market perform” rating and set a $62.71 price target on the stock in a research note on Tuesday, June 18th. Finally, FIG Partners reaffirmed a “market-perform” rating on shares of Prosperity Bancshares in a research note on Wednesday, April 24th.
Shares of NYSE:PB traded up $0.96 during midday trading on Tuesday, reaching $65.74. The company’s stock had a trading volume of 23,971 shares, compared to its average volume of 551,702. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.63 and a beta of 1.34. The stock has a 50 day moving average of $67.11. Prosperity Bancshares has a fifty-two week low of $57.01 and a fifty-two week high of $76.25.
Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $1.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.18. Prosperity Bancshares had a return on equity of 8.12% and a net margin of 38.27%. The company had revenue of $184.80 million for the quarter, compared to the consensus estimate of $186.94 million. During the same period in the previous year, the business earned $1.17 EPS. On average, sell-side analysts expect that Prosperity Bancshares will post 4.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Friday, September 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is 35.57%.
In other news, Vice Chairman H E. Timanus, Jr. acquired 10,000 shares of Prosperity Bancshares stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $64.39 per share, with a total value of $643,900.00. Following the completion of the acquisition, the insider now owns 148,837 shares in the company, valued at $9,583,614.43. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.86% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of PB. Marshall Wace North America L.P. purchased a new stake in shares of Prosperity Bancshares in the 1st quarter valued at approximately $35,000. Pearl River Capital LLC acquired a new position in shares of Prosperity Bancshares in the 2nd quarter valued at $40,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Prosperity Bancshares in the 2nd quarter valued at $55,000. Benjamin Edwards Inc. boosted its holdings in shares of Prosperity Bancshares by 32.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,364 shares of the bank’s stock valued at $90,000 after buying an additional 338 shares in the last quarter. Finally, Advisory Services Network LLC raised its position in Prosperity Bancshares by 66.8% in the 1st quarter. Advisory Services Network LLC now owns 1,501 shares of the bank’s stock valued at $104,000 after purchasing an additional 601 shares during the last quarter. Hedge funds and other institutional investors own 83.59% of the company’s stock.
Prosperity Bancshares Company Profile
Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, 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; and consumer durables and home equity loans.
See Also: Liquidity
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