Piper Jaffray Companies reissued their hold rating on shares of Prosperity Bancshares (NYSE:PB) in a report published on Tuesday. The brokerage currently has a $73.00 price target on the bank’s stock.

A number of other research firms have also commented on PB. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $79.00 price objective on shares of Prosperity Bancshares in a research note on Friday, December 22nd. Zacks Investment Research raised shares of Prosperity Bancshares from a hold rating to a buy rating and set a $79.00 price objective for the company in a research note on Friday, December 29th. SunTrust Banks reaffirmed a buy rating and set a $77.00 price objective on shares of Prosperity Bancshares in a research note on Wednesday, November 29th. ValuEngine raised shares of Prosperity Bancshares from a hold rating to a buy rating in a research note on Thursday, November 30th. Finally, Barclays upped their price objective on shares of Prosperity Bancshares from $72.00 to $79.00 and gave the company an overweight rating in a research note on Tuesday, January 2nd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Prosperity Bancshares presently has a consensus rating of Hold and an average target price of $73.27.

Shares of Prosperity Bancshares (NYSE PB) traded up $0.63 during midday trading on Tuesday, reaching $74.98. 554,595 shares of the company’s stock were exchanged, compared to its average volume of 490,567. Prosperity Bancshares has a 52 week low of $55.84 and a 52 week high of $77.87. The firm has a market cap of $5,060.00, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.67 and a beta of 1.37.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Prosperity Bancshares had a net margin of 34.79% and a return on equity of 7.38%. The company had revenue of $184.96 million during the quarter, compared to analyst estimates of $185.59 million. During the same period in the prior year, the firm earned $0.99 earnings per share. equities analysts anticipate that Prosperity Bancshares will post 3.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.92%. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, December 14th. Prosperity Bancshares’s dividend payout ratio is 36.55%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new stake in shares of Prosperity Bancshares in the third quarter worth approximately $105,000. Pacad Investment Ltd. purchased a new stake in shares of Prosperity Bancshares in the second quarter worth approximately $109,000. PNC Financial Services Group Inc. lifted its position in shares of Prosperity Bancshares by 8.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,424 shares of the bank’s stock worth $156,000 after purchasing an additional 185 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Prosperity Bancshares by 17.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,489 shares of the bank’s stock worth $160,000 after purchasing an additional 369 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its position in shares of Prosperity Bancshares by 42.8% in the second quarter. Riverhead Capital Management LLC now owns 3,428 shares of the bank’s stock worth $220,000 after purchasing an additional 1,028 shares in the last quarter. 76.80% of the stock is owned by institutional investors and hedge funds.

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About Prosperity Bancshares

Prosperity Bancshares, Inc is a financial holding company, which 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, through the Bank, offers a range of loan and deposit products to its customers.

Analyst Recommendations for Prosperity Bancshares (NYSE:PB)

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