Prosperity Bancshares (PB) Expected to Announce Quarterly Earnings on Wednesday

Prosperity Bancshares (NYSE:PB) is projected to post its quarterly earnings results before the market opens on Wednesday, January 29th. Analysts expect Prosperity Bancshares to post earnings of $1.33 per share and revenue of $303,209.58 billion for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Prosperity Bancshares Stock Performance

Prosperity Bancshares stock opened at $80.21 on Tuesday. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.11 and a beta of 0.93. The stock’s 50 day moving average price is $78.89 and its two-hundred day moving average price is $74.79. Prosperity Bancshares has a 52-week low of $57.16 and a 52-week high of $86.75.

Prosperity Bancshares Announces Dividend

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 dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is 49.26%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America upgraded 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. UBS Group lowered their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. DA Davidson cut shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $80.00 to $78.00 in a report on Tuesday, October 15th. Finally, StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Prosperity Bancshares presently has an average rating of “Hold” and an average target price of $81.38.

Insider Activity at Prosperity Bancshares

In related news, 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 transaction of $320,280.00. Following the completion of the sale, the director now directly owns 107,137 shares in the company, valued at $8,578,459.59. This represents a 3.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $81.44, for a total transaction of $40,720.00. Following the completion of the sale, the director now owns 113,815 shares of the company’s stock, valued at approximately $9,269,093.60. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,600 shares of company stock valued at $1,196,144 over the last 90 days. 4.28% of the stock is owned by corporate insiders.

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.