Prosperity Bancshares (NYSE:PB) Downgraded by StockNews.com to "Sell"

Prosperity Bancshares (NYSE:PB - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Wednesday.

PB has been the subject of several other research reports. Stephens raised their target price on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. UBS Group reduced their price objective on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, December 26th. Raymond James upped their target price on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Bank of America upgraded Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research report on Tuesday, January 7th. Finally, Morgan Stanley lowered their price objective on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $83.50.

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Prosperity Bancshares Price Performance

PB traded down $0.05 on Wednesday, reaching $70.49. 923,831 shares of the stock were exchanged, compared to its average volume of 523,535. The company's 50-day moving average price is $76.43 and its 200 day moving average price is $76.20. The firm has a market capitalization of $6.71 billion, a PE ratio of 13.93, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares has a fifty-two week low of $57.16 and a fifty-two week high of $86.76.

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, beating analysts' consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. As a group, equities analysts forecast that Prosperity Bancshares will post 5.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $75.25, for a total value of $37,625.00. Following the transaction, the director now owns 109,815 shares in the company, valued at $8,263,578.75. This trade represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 5,500 shares of company stock valued at $418,095 over the last ninety days. Corporate insiders own 4.28% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Prosperity Bancshares by 14.9% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank's stock worth $71,000 after purchasing an additional 128 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Prosperity Bancshares by 4.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,069 shares of the bank's stock worth $229,000 after buying an additional 128 shares in the last quarter. GAMMA Investing LLC boosted its position 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 acquiring an additional 143 shares during the last quarter. M&T Bank Corp grew its stake in Prosperity Bancshares by 0.3% during the 3rd quarter. M&T Bank Corp now owns 45,392 shares of the bank's stock valued at $3,272,000 after acquiring an additional 149 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in Prosperity Bancshares by 3.8% during the 4th quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank's stock valued at $430,000 after acquiring an additional 194 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

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.