Prosperity Bancshares, Inc. (PB) – What Are Brokerages Thinking About This Stock?

Prosperity Bancshares, Inc. (NYSE:PB) has been assigned a consensus rating of “Hold” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $78.36.

Several equities analysts have weighed in on PB shares. Weiss Ratings raised Prosperity Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, November 4th. Piper Sandler lowered their price objective on shares of Prosperity Bancshares from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, October 29th. Barclays increased their target price on Prosperity Bancshares from $68.00 to $70.00 and gave the company an “underweight” rating in a report on Monday, October 5th. Citigroup raised their price target on shares of Prosperity Bancshares from $77.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Prosperity Bancshares in a report on Thursday, October 29th.

Prosperity Bancshares Trading Up 0.3%

Shares of PB stock opened at $73.04 on Friday. The stock’s fifty day simple moving average is $69.58 and its 200 day simple moving average is $70.35. The firm has a market capitalization of $7.37 billion, a P/E ratio of 11.66, a P/E/G ratio of 0.85 and a beta of 0.64. Prosperity Bancshares has a twelve month low of $63.20 and a twelve month high of $77.20. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.01.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, October 28th. The bank reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.32. Prosperity Bancshares had a return on equity of 7.68% and a net margin of 26.99%. The company had revenue of $495.70 million for the quarter, compared to the consensus estimate of $491.49 million. During the same period in the previous year, the business earned $1.45 EPS. The firm’s revenue was up 56.0% compared to the same quarter last year. As a group, sell-side analysts predict that Prosperity Bancshares will post 6.47 EPS for the current fiscal year.

Prosperity Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 15th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, December 15th. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.60. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 43.64%.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned Holmes sold 600 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $74.04, for a total transaction of $44,424.00. Following the sale, the director owned 38,100 shares of the company’s stock, valued at $2,820,924. This trade represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 12,245 shares of company stock worth $857,390 over the last ninety days. 3.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Prosperity Bancshares during the 2nd quarter valued at approximately $746,776,000. Dimensional Fund Advisors LP grew its stake in Prosperity Bancshares by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,929,309 shares of the bank’s stock worth $331,142,000 after purchasing an additional 205,291 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Prosperity Bancshares in the 2nd quarter worth approximately $350,099,000. North Reef Capital Management LP grew its position in shares of Prosperity Bancshares by 149.0% in the 1st quarter. North Reef Capital Management LP now owns 1,107,877 shares of the bank’s stock worth $74,427,000 after buying an additional 662,877 shares during the last quarter. Finally, Algebris UK Ltd. purchased a new position in shares of Prosperity Bancshares in the 2nd quarter valued at approximately $59,465,000. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc. is a bank holding company whose principal subsidiary is Prosperity Bank. The company provides commercial and consumer banking services, including deposit accounts, business and personal loans, mortgage lending, and cash management services. Founded in 1983 as a community bank in Edna, Texas, Prosperity has expanded through organic growth and acquisitions. It serves customers across Texas and Oklahoma, with a presence in communities including Houston, Dallas–Fort Worth, Austin, San Antonio, and Tulsa.