Prosperity Bancshares, Inc. (NYSE:PB) Receives $78.96 Average PT from Analysts

Shares of Prosperity Bancshares, Inc. (NYSE:PB) have received a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $78.96.

PB has been the subject of a number of research reports. Compass Point lifted their price target on Prosperity Bancshares from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James lowered Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 target price on the stock. in a research report on Tuesday, September 17th. Piper Sandler upped their price target on Prosperity Bancshares from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of Prosperity Bancshares in a research note on Thursday, October 24th.

Prosperity Bancshares Trading Down 0.0 %

Shares of Prosperity Bancshares stock opened at $82.95 on Monday. The stock’s fifty day simple moving average is $73.40 and its 200 day simple moving average is $68.08. The company has a market capitalization of $7.90 billion, a PE ratio of 17.61, a PEG ratio of 1.24 and a beta of 0.89. Prosperity Bancshares has a 12 month low of $56.37 and a 12 month high of $85.13.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. The company had revenue of $459.00 million for the quarter, compared to analyst estimates of $299.83 million. During the same quarter last year, the firm posted $1.20 earnings per share. Analysts predict 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 will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued 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 2.80%. The ex-dividend date is Friday, December 13th. Prosperity Bancshares’s dividend payout ratio is 47.56%.

Institutional Trading of Prosperity Bancshares

Several large investors have recently made changes to their positions in PB. US Bancorp DE grew its holdings in shares of Prosperity Bancshares by 3.4% during the 3rd quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock valued at $340,000 after purchasing an additional 153 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Prosperity Bancshares by 59.6% during the second quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock worth $29,000 after buying an additional 177 shares in the last quarter. Tectonic Advisors LLC lifted its stake in shares of Prosperity Bancshares by 3.0% in the 3rd quarter. Tectonic Advisors LLC now owns 7,058 shares of the bank’s stock valued at $509,000 after acquiring an additional 206 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Prosperity Bancshares by 1.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 17,967 shares of the bank’s stock valued at $1,295,000 after acquiring an additional 228 shares in the last quarter. Finally, Inspire Investing LLC grew its position in Prosperity Bancshares by 6.1% during the 2nd quarter. Inspire Investing LLC now owns 5,739 shares of the bank’s stock worth $351,000 after acquiring an additional 328 shares during the last quarter. 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.