Prosperity Bancshares, Inc. (NYSE:PB) – Equities research analysts at SunTrust Banks reduced their Q3 2017 earnings per share estimates for Prosperity Bancshares in a report issued on Thursday. SunTrust Banks analyst J. Demba now forecasts that the bank will earn $0.99 per share for the quarter, down from their prior estimate of $1.00. SunTrust Banks has a “Buy” rating and a $73.00 price target on the stock.

PB has been the topic of a number of other research reports. BidaskClub raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Barclays PLC initiated coverage on shares of Prosperity Bancshares in a report on Thursday, August 3rd. They set an “overweight” rating and a $72.00 price objective on the stock. Raymond James Financial, Inc. restated an “underperform” rating on shares of Prosperity Bancshares in a report on Thursday, August 10th. Finally, UBS AG lowered shares of Prosperity Bancshares to an “underperform” rating in a report on Thursday, August 10th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $71.38.

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Shares of Prosperity Bancshares (NYSE:PB) opened at 65.73 on Monday. The company’s 50 day moving average is $61.47 and its 200 day moving average is $65.33. The firm has a market capitalization of $4.57 billion, a PE ratio of 16.64 and a beta of 1.34. Prosperity Bancshares has a 12-month low of $52.81 and a 12-month high of $77.87.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.01). The company had revenue of $180.01 million during the quarter, compared to analysts’ expectations of $187.13 million. Prosperity Bancshares had a return on equity of 7.49% and a net margin of 35.20%. During the same period last year, the company earned $0.98 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.36 annualized dividend and a yield of 2.07%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 34.34%.

In other news, Director Robert H. Steelhammer sold 5,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 137,800 shares in the company, valued at approximately $8,268,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.93% of the company’s stock.

Several large investors have recently added to or reduced their stakes in PB. Sigma Planning Corp raised its holdings in Prosperity Bancshares by 0.5% during the second quarter. Sigma Planning Corp now owns 5,251 shares of the bank’s stock worth $337,000 after acquiring an additional 26 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Prosperity Bancshares by 0.6% during the first quarter. Envestnet Asset Management Inc. now owns 7,026 shares of the bank’s stock valued at $489,000 after purchasing an additional 40 shares during the last quarter. World Asset Management Inc boosted its position in Prosperity Bancshares by 2.2% during the second quarter. World Asset Management Inc now owns 4,358 shares of the bank’s stock valued at $280,000 after purchasing an additional 93 shares during the last quarter. Bank of Montreal Can grew its stake in Prosperity Bancshares by 0.5% in the second quarter. Bank of Montreal Can now owns 20,975 shares of the bank’s stock valued at $1,348,000 after purchasing an additional 98 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Prosperity Bancshares by 2.2% in the second quarter. Teacher Retirement System of Texas now owns 5,289 shares of the bank’s stock valued at $340,000 after purchasing an additional 114 shares in the last quarter. 72.88% of the stock is currently owned by institutional investors and hedge funds.

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.

Earnings History and Estimates for Prosperity Bancshares (NYSE:PB)

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