Prosperity Bancshares - PB Stock Forecast, Price & News

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; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery. In addition, it provides internet banking, mobile banking, trust and wealth management, retail brokerage, mortgage services, and treasury management, as well as debit and credit cards. As of December 31, 2021, the company operated 273 full-service banking locations comprising 65 in the Houston area, including The Woodlands; 30 in the South Texas area including Corpus Christi and Victoria; 63 in the Dallas/Fort Worth, Texas area; 22 in the East Texas area; 29 in the Central Texas area, including Austin and San Antonio; 34 in the West Texas area, including Lubbock, Midland-Odessa and Abilene; 16 in the Bryan/College Station area; 6 in the Central Oklahoma area; and 8 in the Tulsa, Oklahoma area doing business as LegacyTexas Bank. Prosperity Bancshares, Inc. was founded in 1983 and is based in Houston, Texas.

Wall Street Analyst Weigh In

A number of research firms have commented on PB. Truist Financial decreased their target price on shares of Prosperity Bancshares from $78.00 to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, June 15th. Piper Sandler reduced their target price on shares of Prosperity Bancshares to $78.00 in a report on Monday, July 4th. Wolfe Research lowered their price objective on Prosperity Bancshares from $69.00 to $63.00 and set an "underperform" rating on the stock in a research report on Thursday, May 26th. Finally, StockNews.com raised Prosperity Bancshares from a "sell" rating to a "hold" rating in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $77.25.

Prosperity Bancshares Stock Performance

Shares of NYSE:PB traded up $0.67 during mid-day trading on Friday, reaching $76.10. 285,234 shares of the company's stock were exchanged, compared to its average volume of 475,731. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.32 and a beta of 1.05. Prosperity Bancshares has a 52-week low of $64.40 and a 52-week high of $80.46. The company's 50-day moving average is $70.33 and its 200-day moving average is $70.53.

Prosperity Bancshares (NYSE:PB - Get Rating) last announced its earnings results on Wednesday, July 27th. The bank reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.02. Prosperity Bancshares had a return on equity of 7.85% and a net margin of 43.50%. The company had revenue of $286.10 million during the quarter, compared to analysts' expectations of $285.39 million. During the same period last year, the business posted $1.41 EPS. Prosperity Bancshares's revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts predict that Prosperity Bancshares will post 5.75 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Wednesday, September 14th. Prosperity Bancshares's payout ratio is presently 37.82%.

Insider Activity

In related news, Chairman H E. Timanus, Jr. acquired 2,000 shares of the firm's stock in a transaction dated Thursday, June 16th. The stock was acquired at an average price of $65.60 per share, for a total transaction of $131,200.00. Following the purchase, the chairman now owns 4,000 shares of the company's stock, valued at approximately $262,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman H E. Timanus, Jr. acquired 2,000 shares of the firm's stock in a transaction dated Thursday, June 16th. The stock was acquired at an average price of $65.60 per share, for a total transaction of $131,200.00. Following the purchase, the chairman now owns 4,000 shares of the company's stock, valued at approximately $262,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director George A. Fisk sold 1,200 shares of the firm's stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $69.50, for a total value of $83,400.00. Following the sale, the director now directly owns 93,611 shares in the company, valued at approximately $6,505,964.50. The disclosure for this sale can be found here. Company insiders own 4.22% of the company's stock.