Prosperity Bancshares, Inc. (PB) Receives $75.57 Consensus Target Price from Brokerages

Prosperity Bancshares, Inc. (NYSE:PB) has been given an average rating of “Hold” by the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $75.57.

Several equities research analysts recently weighed in on PB shares. Stephens reissued a “hold” rating and issued a $73.00 price objective on shares of Prosperity Bancshares in a report on Wednesday, December 19th. Hovde Group raised Prosperity Bancshares from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Wednesday, January 2nd. Barclays lowered Prosperity Bancshares from an “overweight” rating to an “equal weight” rating and set a $71.00 price objective for the company. in a report on Thursday, January 10th. Zacks Investment Research lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Friday, January 11th. Finally, SunTrust Banks lifted their price objective on Prosperity Bancshares to $84.00 and gave the stock a “buy” rating in a report on Thursday, January 31st.

Shares of PB traded down $0.32 during trading hours on Wednesday, reaching $72.18. The stock had a trading volume of 10,109 shares, compared to its average volume of 351,250. Prosperity Bancshares has a 12 month low of $57.01 and a 12 month high of $76.92. The stock has a market cap of $4.97 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.74 and a beta of 1.38.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 30th. The bank reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Prosperity Bancshares had a return on equity of 8.12% and a net margin of 38.17%. The company had revenue of $186.33 million for the quarter, compared to analysts’ expectations of $188.17 million. During the same period last year, the business earned $0.99 EPS. Prosperity Bancshares’s quarterly revenue was up .6% compared to the same quarter last year. Analysts anticipate that Prosperity Bancshares will post 4.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.64 dividend on an annualized basis and a yield of 2.27%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 35.57%.

Several institutional investors and hedge funds have recently bought and sold shares of PB. Louisiana State Employees Retirement System raised its stake in shares of Prosperity Bancshares by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the bank’s stock valued at $1,229,000 after acquiring an additional 200 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of Prosperity Bancshares by 62.9% in the fourth quarter. First Mercantile Trust Co. now owns 570 shares of the bank’s stock valued at $35,000 after acquiring an additional 220 shares in the last quarter. Huntington National Bank raised its stake in shares of Prosperity Bancshares by 17.8% in the fourth quarter. Huntington National Bank now owns 1,728 shares of the bank’s stock valued at $108,000 after acquiring an additional 261 shares in the last quarter. Diversified Trust Co raised its stake in shares of Prosperity Bancshares by 4.7% in the fourth quarter. Diversified Trust Co now owns 5,955 shares of the bank’s stock valued at $371,000 after acquiring an additional 265 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of Prosperity Bancshares by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 86,023 shares of the bank’s stock valued at $5,359,000 after acquiring an additional 283 shares in the last quarter. 84.84% of the stock is currently 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 retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, 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.

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Analyst Recommendations for Prosperity Bancshares (NYSE:PB)

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