Prosperity Bancshares, Inc. (NYSE:PB) has been given a consensus rating of “Hold” by the fifteen brokerages that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $75.56.
Several equities analysts have recently weighed in on PB shares. ValuEngine downgraded shares of Prosperity Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Deutsche Bank raised their price target on shares of Prosperity Bancshares from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Friday, May 4th. Zacks Investment Research raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. Barclays reduced their target price on shares of Prosperity Bancshares from $79.00 to $78.00 and set an “overweight” rating on the stock in a research note on Thursday, April 26th. Finally, DA Davidson reduced their target price on shares of Prosperity Bancshares from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, April 26th.
In other Prosperity Bancshares news, insider Randy Hester sold 5,000 shares of Prosperity Bancshares stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $73.13, for a total transaction of $365,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ned S. Holmes sold 50,000 shares of Prosperity Bancshares stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $74.46, for a total transaction of $3,723,000.00. The disclosure for this sale can be found here. 5.05% of the stock is owned by insiders.
Shares of Prosperity Bancshares traded down $1.04, hitting $72.02, during midday trading on Thursday, MarketBeat Ratings reports. The company’s stock had a trading volume of 320,682 shares, compared to its average volume of 395,351. The company has a market cap of $5.18 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.60 and a beta of 1.31. Prosperity Bancshares has a 12-month low of $55.84 and a 12-month high of $79.20.
Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, April 25th. The bank reported $1.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.07). The business had revenue of $181.16 million during the quarter, compared to analysts’ expectations of $180.97 million. Prosperity Bancshares had a return on equity of 7.34% and a net margin of 34.87%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. analysts expect that Prosperity Bancshares will post 4.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, June 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 36.55%.
About Prosperity Bancshares
Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, 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.
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