Prosperity Bancshares, Inc. (NYSE:PB) has earned a consensus rating of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $74.45.

PB has been the subject of a number of recent analyst reports. Hovde Group downgraded Prosperity Bancshares from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $70.00 to $68.00 in a research note on Tuesday, January 2nd. SunTrust Banks restated a “buy” rating and issued a $85.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, January 25th. DA Davidson upped their price objective on Prosperity Bancshares to $80.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Zacks Investment Research downgraded Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $79.00 price target on shares of Prosperity Bancshares in a research note on Friday, December 22nd.

In other Prosperity Bancshares news, CFO David Hollaway sold 1,800 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $75.60, for a total value of $136,080.00. Following the completion of the transaction, the chief financial officer now owns 168,684 shares in the company, valued at approximately $12,752,510.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Epps sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $75.15, for a total value of $300,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,800 shares of company stock valued at $818,280 in the last quarter. 4.93% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new position in Prosperity Bancshares in the 3rd quarter worth about $105,000. Tower Research Capital LLC TRC bought a new position in Prosperity Bancshares in the 4th quarter worth about $127,000. PNC Financial Services Group Inc. boosted its stake in Prosperity Bancshares by 8.3% in the 2nd 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 during the period. Arvest Bank Trust Division bought a new position in Prosperity Bancshares in the 4th quarter worth about $210,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Prosperity Bancshares by 39.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,469 shares of the bank’s stock worth $243,000 after purchasing an additional 980 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Shares of Prosperity Bancshares (NYSE:PB) traded up $1.80 during trading hours on Friday, reaching $73.12. The company’s stock had a trading volume of 377,202 shares, compared to its average volume of 456,557. The company has a market cap of $5,108.98, a P/E ratio of 18.61, a PEG ratio of 1.54 and a beta of 1.37. Prosperity Bancshares has a 52-week low of $55.84 and a 52-week high of $77.89.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.01). The business had revenue of $185.27 million during the quarter, compared to the consensus estimate of $185.43 million. Prosperity Bancshares had a net margin of 34.28% and a return on equity of 7.28%. During the same quarter last year, the company earned $0.99 EPS. sell-side analysts predict that Prosperity Bancshares will post 4.79 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 16th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, March 15th. This represents a $1.44 annualized dividend and a dividend yield of 1.97%. Prosperity Bancshares’s payout ratio is 36.64%.

Prosperity Bancshares declared that its board has authorized a stock repurchase program on Friday, January 19th that permits the company to buyback 3,470,000 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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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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