Prosperity Bancshares (NYSE:PB) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other research analysts have also recently weighed in on PB. Zacks Investment Research cut shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. SunTrust Banks restated a “buy” rating and issued a $73.00 price objective on shares of Prosperity Bancshares in a research report on Monday, October 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $79.00 price objective on shares of Prosperity Bancshares in a research report on Friday, December 22nd. Hovde Group cut shares of Prosperity Bancshares from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $70.00 to $68.00 in a research report on Tuesday, January 2nd. Finally, Barclays upped their price objective on shares of Prosperity Bancshares from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.27.

Prosperity Bancshares (NYSE PB) traded up $1.85 during mid-day trading on Wednesday, hitting $72.85. 658,200 shares of the company traded hands, compared to its average volume of 481,145. The company has a market capitalization of $5,060.00, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.67 and a beta of 1.37. Prosperity Bancshares has a one year low of $55.84 and a one year high of $77.87.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The company had revenue of $184.96 million for the quarter, compared to analysts’ expectations of $185.59 million. Prosperity Bancshares had a net margin of 34.79% and a return on equity of 7.38%. During the same period in the prior year, the business earned $0.99 earnings per share. sell-side analysts predict that Prosperity Bancshares will post 3.95 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Prosperity Bancshares by 17,208.1% during the first quarter. BlackRock Inc. now owns 7,302,992 shares of the bank’s stock valued at $509,091,000 after acquiring an additional 7,260,798 shares during the last quarter. Vanguard Group Inc. grew its position in Prosperity Bancshares by 0.7% during the second quarter. Vanguard Group Inc. now owns 6,097,861 shares of the bank’s stock valued at $391,727,000 after acquiring an additional 41,682 shares during the last quarter. BlackRock Fund Advisors grew its position in Prosperity Bancshares by 9.5% during the third quarter. BlackRock Fund Advisors now owns 3,640,718 shares of the bank’s stock valued at $199,839,000 after acquiring an additional 316,760 shares during the last quarter. State Street Corp boosted its stake in shares of Prosperity Bancshares by 16.0% during the first quarter. State Street Corp now owns 3,550,676 shares of the bank’s stock valued at $247,517,000 after purchasing an additional 489,811 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Prosperity Bancshares by 3.1% during the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,020,346 shares of the bank’s stock valued at $110,897,000 after purchasing an additional 61,520 shares during the period. Institutional investors and hedge funds own 76.80% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Prosperity Bancshares (NYSE:PB)

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