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

Prosperity Bancshares (NYSE:PB - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday.

A number of other analysts also recently issued reports on the company. 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. UBS Group lowered their price target on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, December 26th. Wolfe Research restated a "peer perform" rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Barclays raised their price target on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Friday, December 20th. Finally, Raymond James raised their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $82.88.

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Prosperity Bancshares Trading Down 1.1 %

Prosperity Bancshares stock traded down $0.79 during midday trading on Tuesday, hitting $70.76. The stock had a trading volume of 859,254 shares, compared to its average volume of 522,155. Prosperity Bancshares has a 52-week low of $57.16 and a 52-week high of $86.76. The firm's fifty day moving average is $77.17 and its two-hundred day moving average is $76.36. The company has a market capitalization of $6.74 billion, a PE ratio of 13.98, a P/E/G ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating 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, equities research analysts predict that Prosperity Bancshares will post 5.83 earnings per share for the current fiscal year.

Insider Activity

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $82.17, for a total value of $41,085.00. Following the transaction, the director now owns 111,315 shares in the company, valued at $9,146,753.55. The trade was a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harrison Stafford II sold 4,000 shares of Prosperity Bancshares stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $80.07, for a total value of $320,280.00. Following the completion of the transaction, the director now owns 107,137 shares in the company, valued at $8,578,459.59. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,500 shares of company stock worth $747,955. Company insiders own 4.28% of the company's stock.

Institutional Investors Weigh In On Prosperity Bancshares

Several institutional investors have recently added to or reduced their stakes in PB. Smartleaf Asset Management LLC lifted its holdings in shares of Prosperity Bancshares by 487.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock worth $28,000 after purchasing an additional 312 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of 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 period. UMB Bank n.a. lifted its holdings in shares of Prosperity Bancshares by 102.7% during the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank's stock worth $45,000 after purchasing an additional 300 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Prosperity Bancshares by 190.0% during 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 during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 during the period. Institutional investors and hedge funds 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.

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