Prosperity Bancshares, Inc. (NYSE:PB) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $77.27.

PB has been the subject of a number of research reports. DA Davidson lowered Prosperity Bancshares from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $80.00 to $78.00 in a research report on Tuesday. Royal Bank of Canada boosted their price objective on shares of Prosperity Bancshares from $70.00 to $74.00 and gave the company a "sector perform" rating in a research report on Thursday, July 25th. Wedbush upgraded shares of Prosperity Bancshares from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $75.00 to $90.00 in a report on Tuesday, September 24th. StockNews.com lowered Prosperity Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, August 28th. Finally, Compass Point lifted their price objective on Prosperity Bancshares from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, July 26th.

Institutional Trading of Prosperity Bancshares

Several large investors have recently added to or reduced their stakes in PB. Dimensional Fund Advisors LP raised its holdings in Prosperity Bancshares by 14.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,287,615 shares of the bank's stock worth $262,141,000 after purchasing an additional 532,241 shares during the period. Victory Capital Management Inc. raised its stake in Prosperity Bancshares by 3.0% in the second quarter. Victory Capital Management Inc. now owns 6,359,165 shares of the bank's stock valued at $388,799,000 after buying an additional 184,453 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Prosperity Bancshares by 666,140.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 146,573 shares of the bank's stock worth $9,642,000 after purchasing an additional 146,551 shares during the period. Amarillo National Bank acquired a new position in Prosperity Bancshares in the 2nd quarter valued at about $8,520,000. Finally, Thrivent Financial for Lutherans lifted its holdings in Prosperity Bancshares by 16.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 811,772 shares of the bank's stock worth $49,632,000 after purchasing an additional 112,101 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Prosperity Bancshares Stock Up 0.8 %

Shares of Prosperity Bancshares stock traded up $0.59 during trading on Thursday, hitting $74.73. The stock had a trading volume of 710,140 shares, compared to its average volume of 566,036. Prosperity Bancshares has a 1 year low of $49.60 and a 1 year high of $74.96. The stock has a 50 day simple moving average of $71.81 and a 200 day simple moving average of $66.20. The company has a market capitalization of $7.17 billion, a PE ratio of 17.09, a P/E/G ratio of 1.49 and a beta of 0.89.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its earnings results on Wednesday, July 24th. The bank reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.02. The company had revenue of $458.95 million for the quarter, compared to the consensus estimate of $290.06 million. Prosperity Bancshares had a net margin of 25.10% and a return on equity of 6.32%. During the same period in the previous year, the business earned $1.21 EPS. As a group, equities analysts expect that Prosperity Bancshares will post 5.03 earnings per share for the current fiscal year.

Prosperity Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.10%. This is a positive change from Prosperity Bancshares's previous quarterly dividend of $0.56. The ex-dividend date is Friday, December 13th. Prosperity Bancshares's dividend payout ratio is presently 51.61%.

Prosperity Bancshares Company Profile

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.