Shares of Prosperity Bancshares, Inc. (NYSE:PB – Get Rating) have earned a consensus recommendation of "Hold" from the seven ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $75.80.
PB has been the topic of a number of research reports. Piper Sandler cut their price objective on Prosperity Bancshares to $78.00 in a report on Monday, July 4th. Wedbush reiterated a "neutral" rating and issued a $70.00 target price on shares of Prosperity Bancshares in a research note on Wednesday. Truist Financial lowered their target price on Prosperity Bancshares from $78.00 to $77.00 and set a "buy" rating for the company in a research note on Wednesday, June 15th. Finally, StockNews.com upgraded Prosperity Bancshares from a "sell" rating to a "hold" rating in a research note on Wednesday, August 3rd.
Get Prosperity Bancshares alerts:Prosperity Bancshares Trading Down 0.2 %
NYSE PB opened at $66.68 on Wednesday. The business's 50-day moving average price is $72.19 and its 200 day moving average price is $70.14. Prosperity Bancshares has a twelve month low of $64.69 and a twelve month high of $80.46. The company has a market capitalization of $6.15 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.17 and a beta of 1.04.
Prosperity Bancshares (NYSE:PB – Get Rating) last released its earnings results on Wednesday, July 27th. The bank reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.02. Prosperity Bancshares had a return on equity of 7.85% and a net margin of 43.50%. The firm had revenue of $286.10 million for the quarter, compared to the consensus estimate of $285.39 million. During the same period in the prior year, the business posted $1.41 earnings per share. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts predict that Prosperity Bancshares will post 5.77 EPS for the current year.Prosperity Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Wednesday, September 14th. Prosperity Bancshares's dividend payout ratio (DPR) is 37.82%.
Institutional Trading of Prosperity Bancshares
Hedge funds have recently made changes to their positions in the stock. Beacon Pointe Advisors LLC raised its stake in Prosperity Bancshares by 2.5% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 6,340 shares of the bank's stock valued at $434,000 after acquiring an additional 156 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Prosperity Bancshares by 27.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 752 shares of the bank's stock valued at $52,000 after acquiring an additional 162 shares in the last quarter. Securian Asset Management Inc. raised its stake in Prosperity Bancshares by 2.1% during the 2nd quarter. Securian Asset Management Inc. now owns 8,403 shares of the bank's stock valued at $574,000 after acquiring an additional 169 shares in the last quarter. CFO4Life Group LLC raised its stake in Prosperity Bancshares by 0.6% during the 1st quarter. CFO4Life Group LLC now owns 31,066 shares of the bank's stock valued at $2,155,000 after acquiring an additional 174 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its stake in Prosperity Bancshares by 3.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,935 shares of the bank's stock valued at $411,000 after acquiring an additional 181 shares in the last quarter. Institutional investors own 81.50% of the company's stock.
Prosperity Bancshares Company Profile
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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; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.
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