Prosperity Bancshares, Inc. (NYSE:PB) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) have been given an average recommendation of "Moderate Buy" by the sixteen brokerages that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $83.80.

PB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Jefferies Financial Group initiated coverage on shares of Prosperity Bancshares in a report on Wednesday, May 21st. They set a "buy" rating and a $85.00 price objective on the stock. Morgan Stanley dropped their target price on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Royal Bank Of Canada dropped their target price on Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th.

Prosperity Bancshares Stock Up 1.9%

PB opened at $69.11 on Tuesday. Prosperity Bancshares has a 52-week low of $58.59 and a 52-week high of $86.76. The company has a market cap of $6.58 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.85 and a beta of 0.68. The firm's 50-day moving average price is $69.23 and its 200-day moving average price is $72.87.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.02. Prosperity Bancshares had a net margin of 27.69% and a return on equity of 6.81%. The firm had revenue of $306.68 million for the quarter, compared to the consensus estimate of $307.17 million. During the same quarter in the prior year, the company posted $1.18 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts anticipate that Prosperity Bancshares will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.58 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.32 annualized dividend and a yield of 3.36%. Prosperity Bancshares's dividend payout ratio is presently 44.19%.

Insiders Place Their Bets

In other news, Director Ned S. Holmes sold 600 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $70.89, for a total transaction of $42,534.00. Following the completion of the transaction, the director now directly owns 45,700 shares of the company's stock, valued at $3,239,673. This represents a 1.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 8,400 shares of company stock worth $582,026. Corporate insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its stake in shares of Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock worth $28,000 after buying an additional 312 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Prosperity Bancshares by 368.5% in the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock valued at $39,000 after acquiring an additional 409 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Prosperity Bancshares in the 1st quarter worth approximately $48,000. Aster Capital Management DIFC Ltd boosted its holdings in shares of Prosperity Bancshares by 349.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after purchasing an additional 713 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Prosperity Bancshares by 23.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank's stock valued at $76,000 after purchasing an additional 195 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

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.

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