Prosperity Bancshares, Inc. (PB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Prosperity Bancshares, Inc. (NYSE:PB) have earned an average rating of “Hold” from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $74.00.

Several analysts have recently commented on the company. DA Davidson increased their target price on Prosperity Bancshares to $80.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. SunTrust Banks restated a “buy” rating and set a $85.00 target price on shares of Prosperity Bancshares in a report on Thursday, January 25th. Zacks Investment Research cut Prosperity Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine cut Prosperity Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $79.00 price target on shares of Prosperity Bancshares in a report on Friday, December 22nd.

In related news, CFO David Hollaway sold 1,800 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $75.60, for a total value of $136,080.00. Following the transaction, the chief financial officer now owns 168,684 shares in the company, valued at $12,752,510.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Epps sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $75.15, for a total value of $300,600.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,800 shares of company stock worth $818,280. 4.93% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC acquired a new position in Prosperity Bancshares in the fourth quarter valued at about $3,081,000. Jane Street Group LLC acquired a new position in Prosperity Bancshares in the fourth quarter valued at about $1,454,000. Flinton Capital Management LLC lifted its stake in Prosperity Bancshares by 15.4% in the fourth quarter. Flinton Capital Management LLC now owns 39,856 shares of the bank’s stock valued at $2,793,000 after buying an additional 5,328 shares during the period. Meadow Creek Investment Management LLC lifted its stake in Prosperity Bancshares by 15.4% in the fourth quarter. Meadow Creek Investment Management LLC now owns 54,802 shares of the bank’s stock valued at $3,840,000 after buying an additional 7,326 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in Prosperity Bancshares by 4.6% in the fourth quarter. TIAA CREF Investment Management LLC now owns 201,952 shares of the bank’s stock valued at $14,151,000 after buying an additional 8,870 shares during the period. 76.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Prosperity Bancshares (PB) traded up $0.86 during mid-day trading on Friday, hitting $77.82. The stock had a trading volume of 347,977 shares, compared to its average volume of 440,560. The company has a market capitalization of $5,355.67, a PE ratio of 19.80, a PEG ratio of 1.61 and a beta of 1.37. Prosperity Bancshares has a 12 month low of $55.84 and a 12 month high of $78.07.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, January 24th. The bank reported $0.99 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.01). The business had revenue of $185.27 million for the quarter, compared to the consensus estimate of $185.43 million. Prosperity Bancshares had a return on equity of 7.28% and a net margin of 34.28%. During the same quarter in the previous year, the company posted $0.99 EPS. sell-side analysts anticipate that Prosperity Bancshares will post 4.78 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 16th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, March 15th. Prosperity Bancshares’s dividend payout ratio is 36.64%.

Prosperity Bancshares declared that its board has initiated a stock repurchase plan on Friday, January 19th that permits the company to repurchase 3,470,000 outstanding shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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About Prosperity Bancshares

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.

Analyst Recommendations for Prosperity Bancshares (NYSE:PB)

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