Prosperity Bancshares, Inc. (NYSE:PB) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $83.71.

PB has been the subject of a number of research analyst reports. Barclays cut their price objective on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Stephens raised their target price on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Hovde Group decreased their price target on shares of Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Raymond James lifted their target price on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods dropped their price target on Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Monday.

Insider Activity

In related news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $73.62, for a total transaction of $36,810.00. Following the transaction, the director now directly owns 105,315 shares of the company's stock, valued at $7,753,290.30. This trade represents a 0.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders sold 5,500 shares of company stock valued at $385,225. Corporate insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Prosperity Bancshares

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its stake in Prosperity Bancshares by 3.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 282,920 shares of the bank's stock valued at $21,128,000 after buying an additional 10,589 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Prosperity Bancshares by 45.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 7,281 shares of the bank's stock worth $549,000 after purchasing an additional 2,263 shares during the period. Hodges Capital Management Inc. boosted its position in Prosperity Bancshares by 4.9% in the fourth quarter. Hodges Capital Management Inc. now owns 147,231 shares of the bank's stock valued at $11,094,000 after buying an additional 6,902 shares during the last quarter. Franklin Resources Inc. increased its holdings in Prosperity Bancshares by 40.6% in the 3rd quarter. Franklin Resources Inc. now owns 34,411 shares of the bank's stock worth $2,509,000 after buying an additional 9,935 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its position in Prosperity Bancshares by 20.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,784 shares of the bank's stock worth $285,000 after buying an additional 632 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Prosperity Bancshares Trading Up 0.1 %

Shares of PB traded up $0.07 during trading hours on Monday, reaching $71.19. 79,686 shares of the stock traded hands, compared to its average volume of 618,350. The company has a market cap of $6.78 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 0.94 and a beta of 0.70. The company's 50-day moving average price is $68.84 and its two-hundred day moving average price is $75.08. Prosperity Bancshares has a 52-week low of $57.16 and a 52-week high of $86.75.

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

Prosperity Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares's dividend payout ratio is presently 44.19%.

Prosperity Bancshares Company Profile

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.