ValuEngine Lowers Prosperity Bancshares, Inc. (PB) to Hold

ValuEngine lowered shares of Prosperity Bancshares, Inc. (NYSE:PB) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

A number of other equities analysts have also commented on PB. Stephens set a $73.00 price target on Prosperity Bancshares and gave the stock a hold rating in a report on Wednesday, July 26th. Barclays PLC started coverage on Prosperity Bancshares in a report on Thursday, August 3rd. They issued an overweight rating and a $72.00 price target for the company. BidaskClub lowered Prosperity Bancshares from a sell rating to a strong sell rating in a report on Sunday, July 16th. Zacks Investment Research lowered Prosperity Bancshares from a hold rating to a sell rating in a report on Tuesday, September 26th. Finally, Royal Bank Of Canada reaffirmed a hold rating and issued a $71.00 price target on shares of Prosperity Bancshares in a report on Friday, September 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $71.05.

Shares of Prosperity Bancshares (NYSE PB) opened at $64.94 on Friday. Prosperity Bancshares has a 52-week low of $55.84 and a 52-week high of $77.87. The stock has a market capitalization of $4,370.54, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 1.59 and a beta of 1.36.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, October 25th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.02. Prosperity Bancshares had a return on equity of 7.38% and a net margin of 34.79%. The business had revenue of $184.96 million during the quarter, compared to the consensus estimate of $185.59 million. During the same period last year, the business posted $0.99 earnings per share. analysts anticipate that Prosperity Bancshares will post 3.96 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “ValuEngine Lowers Prosperity Bancshares, Inc. (PB) to Hold” was posted by Transcript Daily and is the property of of Transcript Daily. If you are reading this report on another site, it was stolen and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://transcriptdaily.com/2017/11/14/valuengine-lowers-prosperity-bancshares-inc-pb-to-hold.html.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a dividend of $0.36 per share. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, December 14th. This represents a $1.44 annualized dividend and a yield of 2.22%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 34.43%.

In related news, Director Robert H. Steelhammer sold 5,000 shares of Prosperity Bancshares stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now owns 137,800 shares of the company’s stock, valued at $8,268,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.93% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of PB. OppenheimerFunds Inc. bought a new stake in Prosperity Bancshares during the first quarter worth about $271,000. Teachers Advisors LLC lifted its stake in Prosperity Bancshares by 3.1% during the first quarter. Teachers Advisors LLC now owns 114,228 shares of the bank’s stock worth $7,963,000 after purchasing an additional 3,461 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Prosperity Bancshares by 13.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the bank’s stock worth $156,000 after purchasing an additional 269 shares during the last quarter. KCG Holdings Inc. bought a new stake in Prosperity Bancshares during the first quarter worth about $448,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Prosperity Bancshares by 0.7% during the first quarter. Public Employees Retirement System of Ohio now owns 44,392 shares of the bank’s stock worth $3,095,000 after purchasing an additional 291 shares during the last quarter. 72.37% of the stock is owned by hedge funds and other institutional investors.

Prosperity Bancshares Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Prosperity Bancshares (NYSE:PB)

Receive News & Ratings for Prosperity Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prosperity Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply