Morgan Stanley cut shares of Prosperity Bancshares Inc. (NYSE:PB) from an equal weight rating to an underweight rating in a research report released on Wednesday morning.

Several other analysts have also commented on PB. Zacks Investment Research lowered shares of Prosperity Bancshares from a hold rating to a sell rating in a research note on Tuesday, September 27th. Wedbush started coverage on shares of Prosperity Bancshares in a research note on Thursday, October 6th. They set a neutral rating and a $54.00 target price for the company. SunTrust Banks Inc. started coverage on shares of Prosperity Bancshares in a research note on Thursday, October 6th. They set a neutral rating for the company. FBR & Co raised shares of Prosperity Bancshares from a market perform rating to an outperform rating and increased their target price for the company from $55.00 to $60.00 in a research note on Tuesday, October 11th. Finally, Deutsche Bank AG increased their target price on shares of Prosperity Bancshares from $54.00 to $59.00 and gave the company a hold rating in a research note on Tuesday, October 11th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $52.38.

Analyst Recommendations for Prosperity Bancshares (NYSE:PB)

Shares of Prosperity Bancshares (NYSE:PB) traded down 0.75% during mid-day trading on Wednesday, hitting $63.90. 322,165 shares of the stock traded hands. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 16.18 and a beta of 1.19. The stock has a 50-day moving average of $56.32 and a 200-day moving average of $53.24. Prosperity Bancshares has a 52 week low of $33.57 and a 52 week high of $66.23.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, October 26th. The company reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. Prosperity Bancshares had a net margin of 34.83% and a return on equity of 7.83%. The business earned $183.80 million during the quarter, compared to analyst estimates of $189.25 million. During the same period in the prior year, the business earned $1.01 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. Analysts anticipate that Prosperity Bancshares will post $3.92 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th will be paid a dividend of $0.34 per share. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, December 14th. This represents a $1.36 annualized dividend and a dividend yield of 2.11%. Prosperity Bancshares’s dividend payout ratio is 30.30%.

In related news, Director Robert H. Steelhammer sold 2,900 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $54.00, for a total value of $156,600.00. Following the transaction, the director now directly owns 160,800 shares in the company, valued at approximately $8,683,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Perry Mueller, Jr. sold 13,536 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $54.00, for a total transaction of $730,944.00. Following the completion of the transaction, the director now owns 6,723 shares in the company, valued at $363,042. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of PB. Martin & Co. Inc. TN raised its position in Prosperity Bancshares by 1.7% in the third quarter. Martin & Co. Inc. TN now owns 19,280 shares of the company’s stock worth $1,058,000 after buying an additional 325 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Prosperity Bancshares by 71.8% in the third quarter. Ameritas Investment Partners Inc. now owns 26,720 shares of the company’s stock worth $1,467,000 after buying an additional 11,163 shares during the last quarter. Cetera Advisor Networks LLC raised its position in Prosperity Bancshares by 100.0% in the third quarter. Cetera Advisor Networks LLC now owns 8,932 shares of the company’s stock worth $490,000 after buying an additional 4,466 shares during the last quarter. Panagora Asset Management Inc. raised its position in Prosperity Bancshares by 54.6% in the third quarter. Panagora Asset Management Inc. now owns 32,824 shares of the company’s stock worth $1,802,000 after buying an additional 11,589 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Prosperity Bancshares during the third quarter worth about $18,483,000. Institutional investors and hedge funds own 81.48% of the company’s stock.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a financial holding company. The Company operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. The Company’s additional products and services include trust services, brokerage, mortgage lending, credit card and independent sales organization (ISO) sponsorship operations.

5 Day Chart for NYSE:PB

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