Prosperity Bancshares (NYSE:PB) Stock Price Expected to Rise, Stephens Analyst Says

Prosperity Bancshares (NYSE:PB) had its price target boosted by Stephens from $93.00 to $94.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Stephens’ price target would suggest a potential upside of 17.56% from the stock’s previous close.

PB has been the subject of several other reports. StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Tuesday, January 7th. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Prosperity Bancshares in a report on Thursday, October 24th. Barclays boosted their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Finally, Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

Prosperity Bancshares Stock Performance

Shares of Prosperity Bancshares stock opened at $79.96 on Thursday. The firm’s 50-day simple moving average is $78.68 and its 200-day simple moving average is $75.07. Prosperity Bancshares has a twelve month low of $57.16 and a twelve month high of $86.75. The firm has a market cap of $7.62 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93.

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

Insider Transactions at Prosperity Bancshares

In other news, Director Harrison Stafford II sold 4,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $80.07, for a total value of $320,280.00. Following the sale, the director now owns 107,137 shares of the company’s stock, valued at $8,578,459.59. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ned S. Holmes sold 500 shares of the company’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 directly owns 113,815 shares in the company, valued at $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 15,100 shares of company stock valued at $1,236,104 over the last 90 days. 4.28% of the stock is owned by corporate insiders.

Institutional Trading of Prosperity Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP raised its position in Prosperity Bancshares by 533.3% during the second quarter. Quarry LP now owns 494 shares of the bank’s stock worth $30,000 after acquiring an additional 416 shares in the last quarter. UMB Bank n.a. raised its position in Prosperity Bancshares by 102.7% during the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC raised its position 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 acquiring an additional 227 shares in the last quarter. First Horizon Advisors Inc. raised its position in Prosperity Bancshares by 190.0% during the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after acquiring an additional 534 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Prosperity Bancshares by 181.6% during the third quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock worth $62,000 after acquiring an additional 554 shares in the last quarter. 80.69% of the stock is 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.