Prosperity Bancshares (NYSE:PB)‘s stock had its “buy” rating restated by investment analysts at SunTrust Banks in a report issued on Wednesday. They presently have a $77.00 price target on the bank’s stock. SunTrust Banks’ target price suggests a potential upside of 9.02% from the company’s previous close.

Several other brokerages have also recently weighed in on PB. Barclays initiated coverage on Prosperity Bancshares in a report on Thursday, August 3rd. They issued an “overweight” rating and a $72.00 price objective for the company. Zacks Investment Research cut Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Royal Bank Of Canada restated a “hold” rating and issued a $71.00 price objective on shares of Prosperity Bancshares in a report on Friday, September 8th. Raymond James Financial restated an “underperform” rating on shares of Prosperity Bancshares in a report on Thursday, August 10th. Finally, UBS cut Prosperity Bancshares to an “underperform” rating in a report on Thursday, August 10th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Prosperity Bancshares presently has an average rating of “Hold” and an average price target of $71.45.

Prosperity Bancshares (PB) traded up $2.77 during mid-day trading on Wednesday, reaching $70.63. The company’s stock had a trading volume of 453,580 shares, compared to its average volume of 465,720. The company has a market cap of $4,530.00, a PE ratio of 16.47, a PEG ratio of 1.65 and a beta of 1.36. Prosperity Bancshares has a 52-week low of $55.84 and a 52-week high of $77.87.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, October 25th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.02. The firm had revenue of $184.96 million during the quarter, compared to analysts’ expectations of $185.59 million. Prosperity Bancshares had a return on equity of 7.38% and a net margin of 34.79%. During the same quarter in the prior year, the company earned $0.99 EPS. research analysts anticipate that Prosperity Bancshares will post 3.95 earnings per share for the current year.

In related news, Director Robert H. Steelhammer sold 5,000 shares of the firm’s 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 directly owns 137,800 shares in the company, valued at approximately $8,268,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.93% of the company’s stock.

A number of hedge funds have recently modified their holdings of PB. Capstone Asset Management Co. lifted its position in Prosperity Bancshares by 10.0% during the second quarter. Capstone Asset Management Co. now owns 6,483 shares of the bank’s stock worth $416,000 after acquiring an additional 590 shares during the last quarter. Bank of Montreal Can lifted its position in Prosperity Bancshares by 0.5% during the second quarter. Bank of Montreal Can now owns 20,975 shares of the bank’s stock worth $1,348,000 after acquiring an additional 98 shares during the last quarter. LS Investment Advisors LLC lifted its position in Prosperity Bancshares by 19.8% during the second quarter. LS Investment Advisors LLC now owns 5,546 shares of the bank’s stock worth $356,000 after acquiring an additional 918 shares during the last quarter. State Treasurer State of Michigan lifted its position in Prosperity Bancshares by 1.4% during the second quarter. State Treasurer State of Michigan now owns 28,600 shares of the bank’s stock worth $1,837,000 after acquiring an additional 400 shares during the last quarter. Finally, Huntington National Bank lifted its position in Prosperity Bancshares by 9.2% during the second quarter. Huntington National Bank now owns 1,689 shares of the bank’s stock worth $109,000 after acquiring an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.

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Prosperity Bancshares Company Profile

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.

Analyst Recommendations for Prosperity Bancshares (NYSE:PB)

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