Prosperity Bancshares, Inc. (NYSE:PB) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Several other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $73.00 target price on shares of Prosperity Bancshares in a research note on Tuesday, August 29th. Stephens set a $73.00 price target on shares of Prosperity Bancshares and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Royal Bank of Canada restated a “hold” rating and set a $71.00 price target on shares of Prosperity Bancshares in a research report on Friday, September 8th. Zacks Investment Research upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Barclays PLC initiated coverage on shares of Prosperity Bancshares in a research report on Thursday, August 3rd. They set an “overweight” rating and a $72.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $71.05.

Prosperity Bancshares (PB) traded down $0.11 during mid-day trading on Friday, hitting $62.90. 298,700 shares of the stock traded hands, compared to its average volume of 475,960. Prosperity Bancshares has a twelve month low of $55.84 and a twelve month high of $77.87. The stock has a market cap of $4,378.19, a price-to-earnings ratio of 15.95, a P/E/G ratio of 1.59 and a beta of 1.36.

Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, October 25th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. Prosperity Bancshares had a net margin of 34.79% and a return on equity of 7.38%. The business had revenue of $184.96 million for the quarter, compared to analyst estimates of $185.59 million. During the same period in the prior year, the company posted $0.99 EPS. equities research analysts expect that Prosperity Bancshares will post 3.96 earnings per share for the current fiscal year.

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In other Prosperity Bancshares news, Director Robert H. Steelhammer sold 5,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 137,800 shares in the company, valued at approximately $8,268,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.93% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in PB. Janus Henderson Group PLC acquired a new stake in Prosperity Bancshares in the 2nd quarter valued at about $60,440,000. Koch Industries Inc. acquired a new stake in Prosperity Bancshares in the 2nd quarter valued at about $333,000. Deprince Race & Zollo Inc. raised its holdings in Prosperity Bancshares by 59.5% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 684,927 shares of the bank’s stock valued at $45,020,000 after acquiring an additional 255,384 shares during the last quarter. FMR LLC raised its holdings in Prosperity Bancshares by 14.5% in the 2nd quarter. FMR LLC now owns 1,980,933 shares of the bank’s stock valued at $127,255,000 after acquiring an additional 251,330 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Prosperity Bancshares by 45.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 450,000 shares of the bank’s stock worth $29,578,000 after buying an additional 140,000 shares during the last quarter. Institutional investors own 72.01% of the company’s stock.

About Prosperity Bancshares

Prosperity Bancshares, Inc is a financial holding company, which 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, through the Bank, offers a range of loan and deposit products to its customers.

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Analyst Recommendations for Prosperity Bancshares (NYSE:PB)

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