Prosperity Bancshares (PB) – Analysts’ Recent Ratings Updates

A number of firms have modified their ratings and price targets on shares of Prosperity Bancshares (NYSE: PB) recently:

• 9/27/2024 – Prosperity Bancshares had its price target raised by analysts at Barclays PLC from $70.00 to $75.00. They now have an “equal weight” rating on the stock.
• 9/24/2024 – Prosperity Bancshares was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating. They now have a $90.00 price target on the stock, up previously from $75.00.
• 9/20/2024 – Prosperity Bancshares was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating. They now have a $79.00 price target on the stock, down previously from $81.00.
• 9/17/2024 – Prosperity Bancshares was downgraded by analysts at Raymond James from a “strong-buy” rating to an “outperform” rating. They now have a $80.00 price target on the stock.
• 8/28/2024 – Prosperity Bancshares was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 8/26/2024 – Prosperity Bancshares had its price target raised by analysts at Hovde Group from $80.50 to $82.50. They now have an “outperform” rating on the stock.
• 8/15/2024 – Prosperity Bancshares was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 8/7/2024 – Prosperity Bancshares was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 8/5/2024 – Prosperity Bancshares was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $86.00 price target on the stock, up previously from $75.00.

Prosperity Bancshares Stock Performance

PB stock traded down $0.13 during midday trading on Wednesday, hitting $70.04. 281,343 shares of the stock were exchanged, compared to its average volume of 571,549. Prosperity Bancshares, Inc. has a fifty-two week low of $49.60 and a fifty-two week high of $74.87. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.46 and a beta of 0.90. The stock’s 50-day moving average price is $71.75 and its 200-day moving average price is $65.57.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $458.95 million during 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. Research analysts anticipate that Prosperity Bancshares, Inc. will post 5.05 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.56 per share. The ex-dividend date was Friday, September 13th. This represents a $2.24 annualized dividend and a yield of 3.20%. Prosperity Bancshares’s dividend payout ratio is currently 51.61%.

Institutional Investors Weigh In On Prosperity Bancshares

A number of large investors have recently added to or reduced their stakes in PB. GAMMA Investing LLC boosted its stake in Prosperity Bancshares by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock valued at $29,000 after acquiring an additional 177 shares during the last quarter. Quarry LP boosted its stake in 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. Quest Partners LLC boosted its stake in Prosperity Bancshares by 3,147.1% during the 2nd quarter. Quest Partners LLC now owns 552 shares of the bank’s stock valued at $34,000 after acquiring an additional 535 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Prosperity Bancshares during the 2nd quarter valued at $43,000. Finally, Headlands Technologies LLC bought a new position in Prosperity Bancshares during the 2nd quarter valued at $46,000. 80.69% of the stock is owned by institutional investors and hedge funds.

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.