Shares of Prosperity Bancshares, Inc. (NYSE:PB – Get Free Report) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $76.04.
A number of research analysts recently issued reports on PB shares. Morgan Stanley upgraded Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $75.00 to $86.00 in a report on Monday, August 5th. Stephens upgraded Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 26th. StockNews.com raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Royal Bank of Canada lifted their price objective on Prosperity Bancshares from $70.00 to $74.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Finally, DA Davidson lifted their price objective on Prosperity Bancshares from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, July 25th.
Check Out Our Latest Stock Analysis on Prosperity Bancshares
Institutional Investors Weigh In On Prosperity Bancshares
Prosperity Bancshares Stock Down 0.2 %
NYSE PB opened at $72.30 on Wednesday. The stock’s 50-day simple moving average is $66.85 and its two-hundred day simple moving average is $63.89. Prosperity Bancshares has a twelve month low of $49.60 and a twelve month high of $74.67. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.46 and a beta of 0.91.
Prosperity Bancshares (NYSE:PB – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $1.22 EPS for the quarter, topping the consensus estimate of $1.20 by $0.02. The firm had revenue of $458.95 million for the quarter, compared to the consensus estimate of $290.06 million. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. During the same quarter in the previous year, the business earned $1.21 earnings per share. On average, equities analysts expect that Prosperity Bancshares will post 5.07 earnings per share for the current fiscal year.
Prosperity Bancshares Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.56 per share. The ex-dividend date is Friday, September 13th. This represents a $2.24 dividend on an annualized basis and a yield of 3.10%. Prosperity Bancshares’s dividend payout ratio is presently 51.61%.
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.
Featured Articles
- Five stocks we like better than Prosperity Bancshares
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Study: How Much Are Retirees Earning from Side Hustles in 2024?
- How to Choose Top Rated Stocks
- Brinker International Offers a Pullback Opportunity on EPS Miss
- Market Cap Calculator: How to Calculate Market Cap
- Globant Is an Emerging AI Play That’s Expanding Its Footprint
Receive News & Ratings for Prosperity Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prosperity Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.