Prosperity Bancshares, Inc. (NYSE:PB) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Prosperity Bancshares, Inc. (NYSE:PB – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $71.00.

PB has been the topic of several research reports. Truist Financial reduced their target price on Prosperity Bancshares from $71.00 to $64.00 in a report on Thursday, June 29th. Wedbush reissued a “neutral” rating and set a $64.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, July 27th. Piper Sandler boosted their price objective on Prosperity Bancshares from $72.00 to $74.00 in a research note on Thursday, July 27th. Stephens boosted their price objective on Prosperity Bancshares from $63.00 to $67.00 in a research note on Thursday, July 27th. Finally, Raymond James boosted their price objective on Prosperity Bancshares from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th.

Read Our Latest Stock Analysis on Prosperity Bancshares

Institutional Trading of Prosperity Bancshares

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Prosperity Bancshares by 0.4% during the third quarter. Vanguard Group Inc. now owns 9,298,310 shares of the bank’s stock worth $620,011,000 after purchasing an additional 40,530 shares in the last quarter. State Street Corp increased its position in shares of Prosperity Bancshares by 11.5% during the second quarter. State Street Corp now owns 8,888,314 shares of the bank’s stock worth $506,826,000 after purchasing an additional 917,381 shares in the last quarter. BlackRock Inc. increased its position in shares of Prosperity Bancshares by 3.5% during the first quarter. BlackRock Inc. now owns 8,642,426 shares of the bank’s stock worth $531,682,000 after purchasing an additional 290,029 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Prosperity Bancshares by 6.1% during the second quarter. Victory Capital Management Inc. now owns 6,106,217 shares of the bank’s stock worth $344,879,000 after purchasing an additional 352,381 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Prosperity Bancshares by 2.7% during the fourth quarter. American Century Companies Inc. now owns 2,674,487 shares of the bank’s stock worth $194,382,000 after purchasing an additional 69,878 shares in the last quarter. Hedge funds and other institutional investors own 81.70% of the company’s stock.

Prosperity Bancshares Stock Performance

NYSE PB opened at $56.06 on Wednesday. The business’s fifty day moving average is $58.82 and its 200 day moving average is $60.41. Prosperity Bancshares has a fifty-two week low of $54.45 and a fifty-two week high of $78.76. The company has a market capitalization of $5.25 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.10 and a beta of 0.96.

Prosperity Bancshares (NYSE:PB – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $1.21 EPS for the quarter, beating the consensus estimate of $1.19 by $0.02. Prosperity Bancshares had a return on equity of 7.55% and a net margin of 34.03%. The business had revenue of $276.15 million for the quarter, compared to the consensus estimate of $281.98 million. On average, sell-side analysts forecast that Prosperity Bancshares will post 5.05 EPS for the current year.

Prosperity Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.20 dividend on an annualized basis and a yield of 3.92%. Prosperity Bancshares’s dividend payout ratio is currently 41.43%.

About Prosperity Bancshares

(Get Free Report

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; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.