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

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen research firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $81.50.

Several brokerages have recently issued reports on PB. Raymond James downgraded shares of Prosperity Bancshares from a "strong-buy" rating to an "outperform" rating and set a $80.00 price target for the company. in a report on Tuesday, September 17th. UBS Group cut their price target on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, December 26th. Barclays upped their price objective on Prosperity Bancshares from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Friday, December 20th. Wedbush reiterated an "outperform" rating and set a $90.00 target price on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Finally, Truist Financial cut shares of Prosperity Bancshares from a "buy" rating to a "hold" rating and decreased their price target for the company from $81.00 to $79.00 in a research report on Friday, September 20th.

Insider Buying and Selling at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $84.66, for a total transaction of $42,330.00. Following the transaction, the director now directly owns 113,315 shares of the company's stock, valued at $9,593,247.90. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $86.50, for a total transaction of $346,000.00. Following the transaction, the chairman now owns 229,953 shares in the company, valued at approximately $19,890,934.50. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,600 shares of company stock worth $1,042,739. 4.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Prosperity Bancshares

Hedge funds have recently modified their holdings of the company. Raymond James & Associates grew its position in Prosperity Bancshares by 8.0% during the second quarter. Raymond James & Associates now owns 29,860 shares of the bank's stock valued at $1,826,000 after buying an additional 2,223 shares during the period. Natixis Advisors LLC increased its stake in shares of Prosperity Bancshares by 3.8% during the 2nd quarter. Natixis Advisors LLC now owns 193,701 shares of the bank's stock worth $11,843,000 after purchasing an additional 7,044 shares during the last quarter. Hodges Capital Management Inc. raised its holdings in shares of Prosperity Bancshares by 30.4% in the 2nd quarter. Hodges Capital Management Inc. now owns 135,681 shares of the bank's stock worth $8,296,000 after purchasing an additional 31,597 shares during the period. TD Asset Management Inc lifted its stake in Prosperity Bancshares by 9.5% in the second quarter. TD Asset Management Inc now owns 35,600 shares of the bank's stock valued at $2,177,000 after purchasing an additional 3,086 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Prosperity Bancshares by 3.0% during the second quarter. Victory Capital Management Inc. now owns 6,359,165 shares of the bank's stock valued at $388,799,000 after purchasing an additional 184,453 shares during the period. Institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Stock Up 0.3 %

Shares of PB traded up $0.21 during midday trading on Tuesday, hitting $75.35. The company's stock had a trading volume of 359,612 shares, compared to its average volume of 558,010. Prosperity Bancshares has a one year low of $57.16 and a one year high of $86.75. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The company's fifty day simple moving average is $79.01 and its two-hundred day simple moving average is $72.42.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. The firm had revenue of $459.00 million during the quarter, compared to the consensus estimate of $299.83 million. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. During the same quarter in the previous year, the firm earned $1.20 earnings per share. On average, research analysts predict that Prosperity Bancshares will post 5.05 earnings per share for the current 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 issued a $0.58 dividend. This is a boost from Prosperity Bancshares's previous quarterly dividend of $0.56. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Friday, December 13th. Prosperity Bancshares's dividend payout ratio (DPR) is currently 49.26%.

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.