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

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) has earned an average rating of "Moderate Buy" from the fourteen ratings firms that are 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 target among brokerages that have covered the stock in the last year is $83.50.

A number of research analysts recently commented on PB shares. Raymond James upped their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Wolfe Research reissued a "peer perform" rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. UBS Group reduced their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, December 26th. Morgan Stanley lowered their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Barclays boosted their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Friday, December 20th.

Prosperity Bancshares Stock Up 1.3 %

Shares of PB traded up $0.92 during midday trading on Friday, reaching $71.54. The company had a trading volume of 357,299 shares, compared to its average volume of 556,006. The firm has a 50 day simple moving average of $76.64 and a 200-day simple moving average of $76.25. The stock has a market cap of $6.82 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. Prosperity Bancshares has a 1-year low of $57.16 and a 1-year high of $86.75.

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Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. As a group, sell-side analysts anticipate that Prosperity Bancshares will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares's dividend payout ratio is currently 45.85%.

Insider Activity at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $80.01, for a total value of $40,005.00. Following the sale, the director now directly owns 107,315 shares of the company's stock, valued at approximately $8,586,273.15. This represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders sold 5,000 shares of company stock worth $382,665. Company insiders own 4.28% of the company's stock.

Hedge Funds Weigh In On Prosperity Bancshares

Several large investors have recently bought and sold shares of PB. Smartleaf Asset Management LLC lifted its holdings in Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock worth $28,000 after buying an additional 312 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Prosperity Bancshares by 368.5% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after purchasing an additional 409 shares during the last quarter. UMB Bank n.a. boosted its holdings in 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 purchasing an additional 300 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Prosperity Bancshares by 190.0% in the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank's stock valued at $59,000 after purchasing an additional 534 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in 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 purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

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.