Prosperity Bancshares (NYSE:PB) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Prosperity Bancshares (NYSE:PB – Get Rating) in a research note released on Thursday morning. The firm issued a sell rating on the bank’s stock.

PB has been the topic of several other reports. Morgan Stanley started coverage on shares of Prosperity Bancshares in a research report on Monday, December 5th. They set an equal weight rating and a $69.00 target price on the stock. DA Davidson upgraded shares of Prosperity Bancshares from a neutral rating to a buy rating and set a $79.00 target price on the stock in a research report on Monday, March 13th. Janney Montgomery Scott raised shares of Prosperity Bancshares from a neutral rating to a buy rating and set a $76.00 price target for the company in a report on Monday, March 13th. Finally, Raymond James raised shares of Prosperity Bancshares from a market perform rating to an outperform rating and set a $85.00 price target for the company in a report on Tuesday, February 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Prosperity Bancshares has an average rating of Hold and an average target price of $76.00.

Prosperity Bancshares Price Performance

NYSE PB opened at $61.90 on Thursday. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 1.10 and a beta of 0.99. The company’s fifty day moving average is $73.06 and its two-hundred day moving average is $72.16. Prosperity Bancshares has a 52-week low of $58.25 and a 52-week high of $78.76.

Prosperity Bancshares (NYSE:PB – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. The company had revenue of $346.32 million for the quarter, compared to analyst estimates of $296.52 million. Prosperity Bancshares had a net margin of 42.30% and a return on equity of 7.97%. During the same period last year, the business posted $1.38 EPS. As a group, sell-side analysts expect that Prosperity Bancshares will post 5.86 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Tuesday, March 14th. Prosperity Bancshares’s dividend payout ratio is 38.39%.

Insider Activity at Prosperity Bancshares

In other news, Chairman H E. Timanus, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $62.90 per share, for a total transaction of $62,900.00. Following the completion of the acquisition, the chairman now owns 202,891 shares in the company, valued at $12,761,843.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its holdings in shares of Prosperity Bancshares by 49.1% in the third quarter. Quadrant Capital Group LLC now owns 437 shares of the bank’s stock valued at $29,000 after buying an additional 144 shares during the period. Zions Bancorporation N.A. acquired a new position in shares of Prosperity Bancshares in the fourth quarter valued at approximately $30,000. Quantbot Technologies LP acquired a new position in shares of Prosperity Bancshares in the third quarter valued at approximately $34,000. Exchange Traded Concepts LLC acquired a new position in shares of Prosperity Bancshares in the third quarter valued at approximately $46,000. Finally, Covestor Ltd boosted its holdings in shares of Prosperity Bancshares by 83.6% in the first quarter. Covestor Ltd now owns 692 shares of the bank’s stock valued at $48,000 after buying an additional 315 shares during the period. Institutional investors and hedge funds own 81.32% of the company’s stock.

Prosperity Bancshares Company Profile

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Prosperity Bancshares, Inc is a holding company, which engages in the provision of financial products and solutions. It offers retail and commercial banking services such as deposits, online Internet banking, loan, investments, trust, and credit card to small and medium-sized businesses and consumers.