Analysts Set Prosperity Bancshares, Inc. (NYSE:PB) Price Target at $81.38

Shares of Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $81.38.

A number of equities analysts recently issued reports on PB shares. StockNews.com downgraded shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, January 8th. UBS Group lowered their target price on shares of Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, December 26th. Wedbush reissued an "outperform" rating and issued a $90.00 price objective on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Barclays increased their target price on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Friday, December 20th. Finally, Wolfe Research restated a "peer perform" rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th.

Prosperity Bancshares Price Performance

NYSE PB traded up $0.74 on Friday, reaching $79.13. The company had a trading volume of 538,969 shares, compared to its average volume of 356,014. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 1.11 and a beta of 0.93. Prosperity Bancshares has a fifty-two week low of $57.16 and a fifty-two week high of $86.75. The business has a 50 day moving average of $78.93 and a two-hundred day moving average of $74.58.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. The company had revenue of $459.00 million during the quarter, compared to the consensus estimate of $299.83 million. During the same period last year, the company earned $1.20 earnings per share. As a group, research analysts predict that Prosperity Bancshares will post 5.05 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares's dividend payout ratio is currently 49.26%.

Insider Activity

In other Prosperity Bancshares news, Director Harrison Stafford II sold 4,000 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the sale, the director now directly owns 107,137 shares in the company, valued at approximately $8,578,459.59. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.96, for a total transaction of $41,980.00. Following the completion of the transaction, the director now directly owns 114,315 shares of the company's stock, valued at $9,597,887.40. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,600 shares of company stock worth $1,196,144. Corporate insiders own 4.28% of the company's stock.

Institutional Investors Weigh In On Prosperity Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in PB. Quarry LP boosted its holdings in shares of Prosperity Bancshares by 533.3% during the 2nd quarter. Quarry LP now owns 494 shares of the bank's stock valued at $30,000 after acquiring an additional 416 shares during the last quarter. UMB Bank n.a. lifted its position in Prosperity Bancshares by 102.7% during 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 during the period. GAMMA Investing LLC grew its position in Prosperity Bancshares by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the bank's stock worth $51,000 after purchasing an additional 227 shares during the period. First Horizon Advisors Inc. grew its position in Prosperity Bancshares by 190.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank's stock worth $59,000 after purchasing an additional 534 shares during the period. Finally, Blue Trust Inc. raised its stake in Prosperity Bancshares by 181.6% during the 3rd quarter. Blue Trust Inc. now owns 859 shares of the bank's stock valued at $62,000 after buying an additional 554 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

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.