Prosperity Bancshares, Inc. (NYSE:PB) Given Average Rating of “Moderate Buy” by Analysts

Shares of Prosperity Bancshares, Inc. (NYSE:PB) have earned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $83.50.

Several research analysts have recently commented on the company. Morgan Stanley decreased their target price on Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. UBS Group reduced 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. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. StockNews.com lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Raymond James boosted their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $76.04, for a total value of $38,020.00. Following the completion of the sale, the director now owns 110,315 shares in the company, valued at $8,388,352.60. This represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 5,500 shares of company stock valued at $418,095 in the last quarter. Corporate insiders own 4.28% of the company’s stock.

Institutional Trading of Prosperity Bancshares

Several institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of Prosperity Bancshares by 14.9% in the fourth quarter. Blue Trust Inc. now owns 987 shares of the bank’s stock valued at $71,000 after buying an additional 128 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Prosperity Bancshares by 4.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,069 shares of the bank’s stock valued at $229,000 after buying an additional 128 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Prosperity Bancshares by 20.4% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after purchasing an additional 143 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Prosperity Bancshares by 0.3% during the third quarter. M&T Bank Corp now owns 45,392 shares of the bank’s stock valued at $3,272,000 after purchasing an additional 149 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Prosperity Bancshares by 3.8% during the fourth quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank’s stock valued at $430,000 after purchasing an additional 194 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Trading Down 0.1 %

Shares of PB opened at $70.49 on Friday. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.94 and a beta of 0.94. The stock has a 50 day moving average of $76.43 and a 200-day moving average of $76.17. Prosperity Bancshares has a 52 week low of $57.16 and a 52 week high of $86.76.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, topping the consensus estimate 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, sell-side analysts predict that Prosperity Bancshares will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s payout ratio is currently 45.85%.

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.