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

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fourteen research firms that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $83.35.

A number of analysts recently weighed in on PB shares. Raymond James raised their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Barclays dropped their target price on Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley decreased their price target on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Stephens boosted their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, Bank of America raised shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research note on Tuesday, January 7th.

Prosperity Bancshares Price Performance

Shares of NYSE:PB traded up $0.26 during midday trading on Thursday, reaching $65.89. The company's stock had a trading volume of 831,772 shares, compared to its average volume of 566,220. The business's fifty day simple moving average is $72.14 and its 200-day simple moving average is $75.55. Prosperity Bancshares has a fifty-two week low of $57.16 and a fifty-two week high of $86.76. The company has a market capitalization of $6.28 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.94 and a beta of 0.82.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. On average, analysts forecast that Prosperity Bancshares will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Friday, March 14th. Prosperity Bancshares's dividend payout ratio is currently 45.85%.

Insider Buying and Selling at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $78.43, for a total transaction of $39,215.00. Following the transaction, the director now directly owns 108,815 shares in the company, valued at approximately $8,534,360.45. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 5,500 shares of company stock valued at $408,695. Corporate insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Prosperity Bancshares

Large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC grew its position in shares of Prosperity Bancshares by 487.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock valued at $28,000 after purchasing an additional 312 shares during the period. Jones Financial Companies Lllp lifted its stake in Prosperity Bancshares by 368.5% in the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock valued at $39,000 after buying an additional 409 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank's stock valued at $45,000 after buying an additional 300 shares during the period. GAMMA Investing LLC increased its position in shares of Prosperity Bancshares by 20.4% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock worth $64,000 after acquiring an additional 143 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of Prosperity Bancshares by 349.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after acquiring an additional 713 shares during the period. 80.69% of the stock is currently owned by institutional investors.

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.