Prosperity Bancshares, Inc. (NYSE:PB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Prosperity Bancshares, Inc. (NYSE:PB) have been assigned an average rating of “Hold” from the fifteen ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $78.7692.

Several brokerages have weighed in on PB. Citigroup reaffirmed a “neutral” rating on shares of Prosperity Bancshares in a report on Monday, February 2nd. Piper Sandler downgraded shares of Prosperity Bancshares from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $77.00 to $74.00 in a research note on Thursday, January 29th. Janney Montgomery Scott cut shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 3rd. DA Davidson reissued a “neutral” rating and issued a $76.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, January 29th. Finally, TD Cowen restated a “buy” rating on shares of Prosperity Bancshares in a research note on Wednesday, January 7th.

Insider Buying and Selling at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $71.31, for a total value of $35,655.00. Following the completion of the transaction, the director owned 81,415 shares of the company’s stock, valued at $5,805,703.65. This represents a 0.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 15,050 shares of company stock valued at $1,075,486. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Mather Group LLC. acquired a new position in Prosperity Bancshares in the 3rd quarter worth about $26,000. Community Bank N.A. acquired a new stake in Prosperity Bancshares during the 3rd quarter worth approximately $29,000. Danske Bank A S bought a new stake in Prosperity Bancshares during the 3rd quarter worth approximately $40,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Prosperity Bancshares in the 3rd quarter valued at approximately $42,000. Finally, Employees Retirement System of Texas bought a new position in shares of Prosperity Bancshares during the second quarter valued at $48,000. 80.69% of the stock is currently owned by institutional investors.

Prosperity Bancshares Stock Down 3.0%

NYSE PB opened at $70.33 on Friday. The firm’s 50 day moving average is $71.80 and its 200-day moving average is $68.86. Prosperity Bancshares has a 12-month low of $61.06 and a 12-month high of $77.92. The company has a market capitalization of $6.68 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 28th. The bank reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. The company had revenue of $317.73 million for the quarter, compared to analysts’ expectations of $319.30 million. Prosperity Bancshares had a net margin of 31.22% and a return on equity of 7.11%. Prosperity Bancshares’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 EPS. As a group, sell-side analysts expect that Prosperity Bancshares will post 5.83 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $2.40 annualized dividend and a yield of 3.4%. Prosperity Bancshares’s dividend payout ratio (DPR) is 41.88%.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.