Prosperity Bancshares (NYSE:PB) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Prosperity Bancshares (NYSE:PB - Free Report) from a hold rating to a sell rating in a research report released on Wednesday.

A number of other equities research analysts have also commented on the stock. Wolfe Research reissued a "peer perform" rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. DA Davidson lowered shares of Prosperity Bancshares from a "buy" rating to a "neutral" rating and lowered their price target for the company from $80.00 to $78.00 in a report on Tuesday, October 15th. Bank of America upgraded shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a research report on Tuesday. UBS Group decreased their price objective on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, December 26th. Finally, Wedbush restated an "outperform" rating and set a $90.00 target price on shares of Prosperity Bancshares in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $81.38.

Prosperity Bancshares Stock Performance

Shares of PB stock traded up $0.96 during trading hours on Wednesday, hitting $74.73. The company had a trading volume of 453,644 shares, compared to its average volume of 429,429. Prosperity Bancshares has a 12 month low of $57.16 and a 12 month high of $86.75. The firm's fifty day moving average is $79.20 and its 200 day moving average is $73.10. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.19 and a beta of 0.93.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its earnings results 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. The business had revenue of $459.00 million during the quarter, compared to analysts' expectations of $299.83 million. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. During the same quarter last year, the company posted $1.20 EPS. On average, sell-side analysts expect that Prosperity Bancshares will post 5.05 EPS for the current fiscal year.

Prosperity Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a dividend of $0.58 per share. This is a positive change from Prosperity Bancshares's previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Friday, December 13th. Prosperity Bancshares's payout ratio is presently 49.26%.

Insider Activity at Prosperity Bancshares

In other Prosperity Bancshares news, 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 value of $346,000.00. Following the completion of the transaction, the chairman now directly owns 229,953 shares of the company's stock, valued at approximately $19,890,934.50. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leah Henderson sold 1,100 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $83.24, for a total value of $91,564.00. Following the sale, the director now directly owns 7,525 shares in the company, valued at approximately $626,381. This represents a 12.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,100 shares of company stock worth $1,080,364 in the last ninety days. Company insiders own 4.28% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PB. Quarry LP grew its holdings in shares of Prosperity Bancshares by 533.3% during the second quarter. Quarry LP now owns 494 shares of the bank's stock worth $30,000 after buying an additional 416 shares in the last quarter. Quest Partners LLC boosted its position in Prosperity Bancshares by 3,147.1% during the 2nd quarter. Quest Partners LLC now owns 552 shares of the bank's stock worth $34,000 after acquiring an additional 535 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Prosperity Bancshares by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the bank's stock worth $51,000 after acquiring an additional 227 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Prosperity Bancshares in the second quarter valued at approximately $46,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Prosperity Bancshares by 190.0% in the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank's stock worth $59,000 after purchasing an additional 534 shares in the last quarter. 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.