Prosperity Bancshares, Inc. (PB) Given Average Rating of “Hold” by Analysts

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.

Several institutional investors and hedge funds have recently made changes to their positions in PB. Findlay Park Partners LLP increased its position in shares of Prosperity Bancshares by 73.6% during the first quarter. Findlay Park Partners LLP now owns 1,909,685 shares of the bank’s stock valued at $138,700,000 after acquiring an additional 809,685 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Prosperity Bancshares by 301.9% during the first quarter. JPMorgan Chase & Co. now owns 501,734 shares of the bank’s stock valued at $36,440,000 after acquiring an additional 376,890 shares during the last quarter. BlackRock Inc. increased its position in shares of Prosperity Bancshares by 3.0% during the first quarter. BlackRock Inc. now owns 5,818,647 shares of the bank’s stock valued at $422,610,000 after acquiring an additional 170,967 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Prosperity Bancshares by 6.9% during the first quarter. Champlain Investment Partners LLC now owns 2,022,175 shares of the bank’s stock valued at $146,871,000 after acquiring an additional 130,025 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Prosperity Bancshares by 23.2% during the first quarter. Handelsbanken Fonder AB now owns 505,000 shares of the bank’s stock valued at $36,678,000 after acquiring an additional 95,000 shares during the last quarter. Institutional investors and hedge funds own 77.63% of the company’s stock.

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.

Analyst Recommendations for Prosperity Bancshares (NYSE:PB)

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