Prosperity Bancshares (NYSE:PB) Price Target Cut to $90.00 by Analysts at Keefe, Bruyette & Woods

Prosperity Bancshares (NYSE:PB - Get Free Report) had its price target lowered by Keefe, Bruyette & Woods from $95.00 to $90.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 26.28% from the stock's current price.

Several other brokerages have also commented on PB. Royal Bank of Canada decreased their price target on Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Hovde Group lowered their target price on Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Morgan Stanley cut their price target on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Barclays lowered their price objective on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com cut shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Prosperity Bancshares currently has an average rating of "Moderate Buy" and an average price target of $83.71.

Prosperity Bancshares Stock Up 0.2 %

PB stock traded up $0.15 on Monday, reaching $71.27. 544,724 shares of the company's stock were exchanged, compared to its average volume of 579,595. The stock has a fifty day moving average of $68.79 and a 200-day moving average of $75.07. The firm has a market cap of $6.79 billion, a PE ratio of 14.09, a P/E/G ratio of 0.94 and a beta of 0.70. Prosperity Bancshares has a twelve month low of $57.16 and a twelve month high of $86.76.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.02. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The business had revenue of $306.68 million for the quarter, compared to analysts' expectations of $307.17 million. During the same period in the prior year, the company posted $1.18 EPS. The business's revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts predict that Prosperity Bancshares will post 5.83 EPS for the current fiscal year.

Insider Transactions at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $78.30, for a total value of $39,150.00. Following the transaction, the director now directly owns 106,815 shares of the company's stock, valued at $8,363,614.50. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 5,500 shares of company stock worth $385,225. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Prosperity Bancshares

Large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in shares of Prosperity Bancshares by 487.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock valued at $28,000 after purchasing an additional 312 shares during the period. Jones Financial Companies Lllp increased its stake in Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after buying an additional 409 shares during the period. UMB Bank n.a. lifted its holdings in Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock worth $45,000 after buying an additional 300 shares in the last quarter. GAMMA Investing LLC boosted its position in Prosperity Bancshares by 20.4% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock valued at $64,000 after buying an additional 143 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its stake in shares of Prosperity Bancshares by 349.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock valued at $69,000 after acquiring an additional 713 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

About Prosperity Bancshares

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; term loans and lines of credit; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.