Prosperity Bancshares, Inc. (NYSE:PB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Prosperity Bancshares, Inc. (NYSE:PB) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat Ratings 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 target among brokers that have updated their coverage on the stock in the last year is $82.88.

A number of research firms recently weighed in on PB. Raymond James upped their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays upped their price objective on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $77.00 target price on shares of Prosperity Bancshares in a research report on Thursday, October 24th. UBS Group lowered their price target on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th. Finally, DA Davidson cut Prosperity Bancshares from a “buy” rating to a “neutral” rating and cut their price objective for the company from $80.00 to $78.00 in a report on Tuesday, October 15th.

Insider Buying and Selling

In related news, 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 transaction of $40,720.00. Following 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $86.50, for a total value of $346,000.00. Following the completion of the transaction, the chairman now directly owns 229,953 shares of the company’s stock, valued at approximately $19,890,934.50. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,100 shares of company stock valued at $1,236,104 in the last 90 days. 4.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PB. Quarry LP raised its position in Prosperity Bancshares by 533.3% in the 2nd quarter. Quarry LP now owns 494 shares of the bank’s stock valued at $30,000 after buying an additional 416 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Prosperity Bancshares by 47.9% during the third quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock worth $51,000 after purchasing an additional 227 shares during the last quarter. First Horizon Advisors Inc. grew its position in Prosperity Bancshares by 190.0% in the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock valued at $59,000 after purchasing an additional 534 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Prosperity Bancshares by 181.6% in the 3rd quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock valued at $62,000 after buying an additional 554 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Stock Down 0.4 %

Prosperity Bancshares stock opened at $79.96 on Friday. Prosperity Bancshares has a 12 month low of $57.16 and a 12 month high of $86.75. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93. The business has a 50 day moving average price of $78.68 and a two-hundred day moving average price of $75.07.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.68% and a net margin of 26.79%. On average, analysts expect that Prosperity Bancshares will post 5.78 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.90%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

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.