Prosperity Bancshares (PB) – Research Analysts’ Recent Ratings Changes
Several brokerages have updated their recommendations and price targets on shares of Prosperity Bancshares (NYSE: PB) in the last few weeks:
- 10/6/2016 – Prosperity Bancshares is now covered by analysts at Wedbush. They set a “neutral” rating and a $54.00 price target on the stock.
- 10/6/2016 – Prosperity Bancshares is now covered by analysts at SunTrust Banks Inc.. They set a “neutral” rating on the stock.
- 10/3/2016 – Prosperity Bancshares was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Prosperity Bancshares’ estimates have been stable lately ahead of its third-quarter 2016 earnings release. Also, the company has positive record of earnings surprises in recent quarters. Further, its organic growth story remains healthy, driven by steady rise in loan and deposits balances. An anticipated increase in loan demand and the likely rise in interest rates will boost NIM. Moreover, given the strong balance sheet position, the company is well positioned to expand further through acquisitions. However, mounting operating expenses remain a major headwind given the company’s investment in franchise. Also, exposure in energy sector loans is expected to hamper its credit quality in the near term. Regulatory pressure is expected to further add to the company’s limitations.”
- 9/27/2016 – Prosperity Bancshares was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Prosperity Bancshares’ exposure in energy sector loans is expected to continue to hamper its credit quality. Further, mounting expenses remain a major headwind. Also, with the company continuously growing inorganically, merger and integration charges are expected to remain on the higher side. However, the company's organic growth story remains healthy, driven by steady rise in loan and deposits balances. Also, given its strong balance sheet position, the company is well positioned to expand further through acquisitions.”
Prosperity Bancshares Inc. (NYSE:PB) opened at 54.90 on Monday. Prosperity Bancshares Inc. has a 52-week low of $33.57 and a 52-week high of $57.04. The firm’s 50-day moving average price is $54.28 and its 200 day moving average price is $51.49. The firm has a market cap of $3.81 billion, a PE ratio of 13.83 and a beta of 1.28.
Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, July 27th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by $0.01. Prosperity Bancshares had a net margin of 34.93% and a return on equity of 7.99%. During the same period last year, the company earned $1.03 EPS. On average, equities analysts anticipate that Prosperity Bancshares Inc. will post $3.94 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 16th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, September 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.19%. Prosperity Bancshares’s dividend payout ratio is presently 30.15%.
In other news, Director Robert H. Steelhammer sold 2,900 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $54.00, for a total transaction of $156,600.00. Following the transaction, the director now owns 160,800 shares of the company’s stock, valued at $8,683,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Perry Mueller, Jr. sold 13,536 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $54.00, for a total transaction of $730,944.00. Following the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $363,042. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Prosperity Bancshares, Inc is a financial holding company. The Company operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. The Company’s additional products and services include trust services, brokerage, mortgage lending, credit card and independent sales organization (ISO) sponsorship operations.
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