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

Shares of Prosperity Bancshares, Inc. (NYSE:PB) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $76.8182.

A number of research firms have commented on PB. Cantor Fitzgerald raised their price objective on Prosperity Bancshares from $81.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Citigroup raised their price objective on Prosperity Bancshares from $72.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. TD Cowen raised their price objective on Prosperity Bancshares from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Wall Street Zen upgraded Prosperity Bancshares from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings lowered Prosperity Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Ned S. Holmes sold 600 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $65.97, for a total transaction of $39,582.00. Following the transaction, the director owned 41,500 shares in the company, valued at $2,737,755. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 14,300 shares of company stock worth $972,475. 3.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prosperity Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the business. Community Bank N.A. bought a new position in shares of Prosperity Bancshares in the 3rd quarter valued at $29,000. Danske Bank A S bought a new position in shares of Prosperity Bancshares in the 3rd quarter valued at $40,000. SouthState Bank Corp bought a new position in shares of Prosperity Bancshares in the 4th quarter valued at $49,000. Osaic Holdings Inc. increased its stake in shares of Prosperity Bancshares by 34.9% in the 2nd quarter. Osaic Holdings Inc. now owns 719 shares of the bank’s stock valued at $51,000 after purchasing an additional 186 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Prosperity Bancshares in the 4th quarter valued at $55,000. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Trading Up 0.4%

PB stock opened at $69.62 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.76 and a current ratio of 0.76. The company’s 50-day simple moving average is $68.56 and its 200 day simple moving average is $69.69. Prosperity Bancshares has a 52 week low of $61.06 and a 52 week high of $77.20. The company has a market capitalization of $7.02 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.06 and a beta of 0.64.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, April 29th. The bank reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. Prosperity Bancshares had a return on equity of 7.20% and a net margin of 29.50%.The firm had revenue of $367.62 million for the quarter, compared to analyst estimates of $358.60 million. During the same quarter last year, the company earned $1.37 EPS. The company’s revenue was up 19.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Prosperity Bancshares will post 6.27 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, June 15th. Prosperity Bancshares’s dividend payout ratio (DPR) is 43.48%.

About Prosperity Bancshares

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.