Prosperity Bancshares (PB) Stock Rating Lowered by ValuEngine

Prosperity Bancshares (NYSE:PB) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $79.00 price target on shares of Prosperity Bancshares in a report on Friday, December 22nd. SunTrust Banks restated a “buy” rating and set a $77.00 price objective on shares of Prosperity Bancshares in a research note on Wednesday, November 29th. Zacks Investment Research upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Barclays upped their price objective on Prosperity Bancshares from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Hovde Group downgraded Prosperity Bancshares from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $70.00 to $68.00 in a research note on Tuesday, January 2nd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Prosperity Bancshares currently has an average rating of “Hold” and a consensus price target of $73.27.

Shares of Prosperity Bancshares (NYSE:PB) traded up $1.85 during midday trading on Wednesday, hitting $72.85. The stock had a trading volume of 658,200 shares, compared to its average volume of 481,145. Prosperity Bancshares has a 1-year low of $55.84 and a 1-year high of $77.87. The company has a market cap of $5,060.00, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.67 and a beta of 1.37.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.02. Prosperity Bancshares had a return on equity of 7.38% and a net margin of 34.79%. The business had revenue of $184.96 million during the quarter, compared to the consensus estimate of $185.59 million. During the same period in the previous year, the business earned $0.99 EPS. research analysts anticipate that Prosperity Bancshares will post 3.95 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of PB. Janus Henderson Group PLC grew its stake in Prosperity Bancshares by 108.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,957,916 shares of the bank’s stock worth $128,701,000 after buying an additional 1,017,115 shares during the last quarter. Koch Industries Inc. acquired a new position in Prosperity Bancshares during the 2nd quarter worth $333,000. Deprince Race & Zollo Inc. boosted its position in Prosperity Bancshares by 59.5% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 684,927 shares of the bank’s stock worth $45,020,000 after acquiring an additional 255,384 shares during the period. FMR LLC boosted its position in Prosperity Bancshares by 14.5% during the 2nd quarter. FMR LLC now owns 1,980,933 shares of the bank’s stock worth $127,255,000 after acquiring an additional 251,330 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Prosperity Bancshares by 3,568.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 190,669 shares of the bank’s stock worth $12,532,000 after acquiring an additional 185,472 shares during the period. Hedge funds and other institutional investors own 76.80% of the company’s stock.

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About Prosperity Bancshares

Prosperity Bancshares, Inc is a financial holding company, which operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. The Company, through the Bank, offers a range of loan and deposit products to its customers.

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