Prosperity Bancshares Inc Sets New 1-Year High at $61.99 (PB)
Prosperity Bancshares (NYSE:PB) set a new 52-week high during trading hours on Wednesday, AnalystRatingsNetwork reports. The company traded as high as $61.99 and last traded at $61.56, with a volume of 197,614 shares. The stock had previously closed at $61.61.
Several analysts have recently commented on the stock. Analysts at FBR Capital Markets reiterated a “market perform” rating on shares of Prosperity Bancshares (NYSE:PB) in a research note to investors on Friday, August 30th. They now have a $60.00 price target on the stock, up previously from $55.00. Separately, analysts at RBC Capital raised their price target on shares of Prosperity Bancshares (NYSE:PB) from $55.00 to $61.00 in a research note to investors on Thursday, July 25th. They now have a “sector perform” rating on the stock. Finally, analysts at Raymond James downgraded shares of Prosperity Bancshares (NYSE:PB) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, July 25th. They now have a $58.00 price target on the stock.
Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $57.38.
Prosperity Bancshares has a 52-week low of $38.56 and a 52-week high of $61.78. The stock has a 50-day moving average of $59.99 and a 200-day moving average of $52.32. The company has a market cap of $3.685 billion and a price-to-earnings ratio of 17.95.
Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.89 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.88 by $0.01. During the same quarter in the prior year, the company posted $0.78 earnings per share. Analysts expect that Prosperity Bancshares will post $3.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 1st. Investors of record on Monday, September 16th will be given a dividend of $0.22 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, September 12th.
Prosperity Bancshares, Inc, incorporated on December 22, 1983, is a financial holding company. The Company operates through its bank subsidiary, Prosperity Bank (NYSE:PB).
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