Prosperity Bancshares (NYSE:PB) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Prosperity Bancshares (NYSE:PB) from a hold rating to a sell rating in a research note issued to investors on Monday.

Several other research firms also recently commented on PB. Stephens raised their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Barclays lifted their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Tuesday, January 7th. UBS Group decreased their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th. Finally, Raymond James lifted their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $82.88.

Prosperity Bancshares Stock Up 0.3 %

Prosperity Bancshares stock opened at $73.91 on Monday. The company has a market cap of $7.04 billion, a P/E ratio of 14.61, a P/E/G ratio of 0.94 and a beta of 0.94. The business has a 50-day simple moving average of $77.41 and a two-hundred day simple moving average of $76.32. Prosperity Bancshares has a 52-week low of $57.16 and a 52-week high of $86.76.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. Research analysts anticipate that Prosperity Bancshares will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Harrison Stafford II sold 4,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $80.07, for a total transaction of $320,280.00. Following the transaction, the director now owns 107,137 shares in the company, valued at $8,578,459.59. The trade was a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $78.48, for a total transaction of $39,240.00. Following the completion of the sale, the director now directly owns 110,815 shares in the company, valued at $8,696,761.20. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,000 shares of company stock worth $711,145. Insiders own 4.28% of the company’s stock.

Institutional Investors Weigh In On Prosperity Bancshares

Large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its holdings in shares of Prosperity Bancshares by 487.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock valued at $28,000 after purchasing an additional 312 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock worth $39,000 after acquiring an additional 409 shares during the period. UMB Bank n.a. boosted its position in Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after buying an additional 300 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Prosperity Bancshares by 190.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock valued at $59,000 after acquiring an additional 534 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after purchasing an additional 143 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; term loans and lines of credit; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.