Prosperity Bancshares, Inc. (NYSE:PB) Receives $82.88 Average PT from Brokerages

Prosperity Bancshares, Inc. (NYSE:PB) has earned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $82.88.

Several research analysts recently weighed in on the company. UBS Group lowered their price objective on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. Barclays increased their price target on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Raymond James boosted their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Tuesday, January 7th.

Prosperity Bancshares Stock Performance

Shares of PB stock opened at $76.50 on Wednesday. Prosperity Bancshares has a fifty-two week low of $57.16 and a fifty-two week high of $86.75. The stock’s fifty day moving average is $77.46 and its two-hundred day moving average is $76.02. The firm has a market capitalization of $7.29 billion, a P/E ratio of 15.12, a PEG ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. On average, equities analysts forecast that Prosperity Bancshares will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.03%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

Insider Activity

In other Prosperity Bancshares news, Director Harrison Stafford II sold 4,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $80.07, for a total transaction of $320,280.00. Following the transaction, the director now owns 107,137 shares in the company, valued at $8,578,459.59. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $83.04, for a total value of $41,520.00. Following the completion of the transaction, the director now owns 112,815 shares of the company’s stock, valued at approximately $9,368,157.60. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,000 shares of company stock valued at $794,995 in the last 90 days. 4.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Prosperity Bancshares

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Prosperity Bancshares by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,780,006 shares of the bank’s stock worth $736,923,000 after buying an additional 44,567 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Prosperity Bancshares by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,586,260 shares of the bank’s stock worth $345,575,000 after purchasing an additional 48,304 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Prosperity Bancshares by 1.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,342,047 shares of the bank’s stock worth $176,473,000 after purchasing an additional 32,917 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Prosperity Bancshares by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank’s stock worth $123,162,000 after purchasing an additional 15,309 shares during the period. Finally, Snyder Capital Management L P increased its stake in Prosperity Bancshares by 7.3% during the fourth quarter. Snyder Capital Management L P now owns 1,220,977 shares of the bank’s stock valued at $92,001,000 after purchasing an additional 83,488 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

About Prosperity Bancshares

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.