Prosperity Bancshares Stock Rating Lowered by Keefe, Bruyette & Woods (PB)
Prosperity Bancshares (NYSE:PB) was downgraded by stock analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a report issued on Thursday, AnalystRatingsNetwork.com reports.
Prosperity Bancshares (NYSE:PB) opened at 64.02 on Thursday. 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 $59.90 and a 200-day moving average of $52.00. The company has a market cap of $3.863 billion and a P/E ratio of 18.65.
Prosperity Bancshares (NYSE:PB) last released its earnings data on Wednesday, October 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. During the same quarter in the previous year, the company posted $0.82 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 Thursday, January 2nd. Investors of record on Monday, December 16th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.50%.
A number of other firms have also recently commented on PB. Analysts at Zacks reiterated a “neutral” rating on shares of Prosperity Bancshares in a research note to investors on Friday, September 27th. They now have a $64.00 price target on the stock. Analysts at FBR Capital Markets reiterated a “market perform” rating on shares of Prosperity Bancshares 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. Eleven research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus price target of $59.86.
Prosperity Bancshares, Inc, incorporated on December 22, 1983, is a financial holding company. The Company operates through its bank subsidiary, Prosperity Bank (NYSE:PB).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.