Prosperity Bancshares, Inc. (NYSE:PB) Given Average Rating of "Moderate Buy" by Analysts

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fifteen research firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $83.71.

A number of equities analysts have issued reports on PB shares. Morgan Stanley cut their price objective on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Stephens upped their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. StockNews.com cut shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th. Bank of America raised Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a report on Tuesday, January 7th. Finally, Royal Bank of Canada decreased their price target on Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th.

Insider Buying and Selling

In other news, Director Ned S. Holmes sold 500 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $63.62, for a total transaction of $31,810.00. Following the completion of the sale, the director now owns 102,815 shares of the company's stock, valued at approximately $6,541,090.30. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 5,500 shares of company stock worth $390,340 in the last 90 days. 4.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prosperity Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Prosperity Bancshares during the 4th quarter valued at about $68,986,000. North Reef Capital Management LP purchased a new position in shares of Prosperity Bancshares during the fourth quarter valued at about $29,211,000. Vaughan Nelson Investment Management L.P. raised its stake in Prosperity Bancshares by 25.1% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,112,574 shares of the bank's stock worth $79,404,000 after buying an additional 223,355 shares in the last quarter. Northern Trust Corp boosted its position in Prosperity Bancshares by 25.5% during the 4th quarter. Northern Trust Corp now owns 937,108 shares of the bank's stock valued at $70,611,000 after acquiring an additional 190,449 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its holdings in shares of Prosperity Bancshares by 462.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 169,778 shares of the bank's stock worth $12,793,000 after acquiring an additional 139,585 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Prosperity Bancshares Price Performance

Shares of NYSE:PB traded down $0.79 during midday trading on Monday, hitting $69.23. 399,188 shares of the company's stock were exchanged, compared to its average volume of 575,955. Prosperity Bancshares has a 12 month low of $57.16 and a 12 month high of $86.76. The company has a market cap of $6.60 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.94 and a beta of 0.70. The stock has a 50 day moving average price of $69.09 and a 200-day moving average price of $75.12.

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

Prosperity Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.58 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.35%. Prosperity Bancshares's dividend payout ratio (DPR) is 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.