Prosperity Bancshares, Inc. (NYSE:PB) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Analysts give Prosperity Bancshares an average recommendation of Hold from 15 firms (1 sell, 6 hold, 8 buy) with a one‑year average price target of $78.31.
• The company reported quarterly EPS of $1.46, beating estimates by $0.01, while revenue declined 5.9% year‑over‑year.
• Prosperity pays a quarterly dividend of $0.60 (annualized $2.40) for a yield of 3.4%, and insiders sold 13,200 shares (worth $916,328) in the past 90 days, owning 3.96% of the stock.

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) has been assigned an average recommendation of "Hold" from the fifteen research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $78.3077.

A number of research analysts recently issued reports on PB shares. Hovde Group boosted their price objective on Prosperity Bancshares from $75.00 to $77.00 and gave the company an "outperform" rating in a research report on Thursday, January 29th. Weiss Ratings upgraded Prosperity Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, April 2nd. Janney Montgomery Scott lowered Prosperity Bancshares from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 3rd. Piper Sandler lowered Prosperity Bancshares from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $77.00 to $74.00 in a research report on Thursday, January 29th. Finally, DA Davidson restated a "neutral" rating and set a $76.00 price objective on shares of Prosperity Bancshares in a research report on Thursday, January 29th.

Insider Transactions at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 600 shares of the business's stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $74.29, for a total transaction of $44,574.00. Following the completion of the transaction, the director owned 42,200 shares in the company, valued at $3,135,038. The trade was a 1.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 13,200 shares of company stock worth $916,328. Insiders own 3.96% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new position in Prosperity Bancshares during the 3rd quarter worth $26,000. Community Bank N.A. acquired a new position in Prosperity Bancshares during the 3rd quarter worth $29,000. Danske Bank A S acquired a new position in Prosperity Bancshares during the 3rd quarter worth $40,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Prosperity Bancshares during the 3rd quarter worth $42,000. Finally, SouthState Bank Corp bought a new stake in shares of Prosperity Bancshares in the 4th quarter worth $49,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Prosperity Bancshares Price Performance

Prosperity Bancshares stock opened at $70.01 on Monday. The company has a market cap of $7.11 billion, a PE ratio of 12.22, a P/E/G ratio of 1.12 and a beta of 0.66. The company has a fifty day moving average price of $68.96 and a two-hundred day moving average price of $68.81. Prosperity Bancshares has a 12 month low of $61.06 and a 12 month high of $77.20.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The bank reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.01. Prosperity Bancshares had a net margin of 31.22% and a return on equity of 7.11%. The firm had revenue of $317.73 million during the quarter, compared to the consensus estimate of $319.30 million. During the same quarter in the previous year, the company posted $1.37 earnings per share. The firm's revenue was down 5.9% on a year-over-year basis. Equities research analysts anticipate that Prosperity Bancshares will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were given a dividend of $0.60 per share. The ex-dividend date was Friday, March 13th. This represents a $2.40 dividend on an annualized basis and a yield of 3.4%. Prosperity Bancshares's payout ratio is currently 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.

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