Prosperity Bancshares, Inc. (NYSE:PB) – Investment analysts at SunTrust Banks lifted their Q4 2018 earnings estimates for shares of Prosperity Bancshares in a research note issued to investors on Monday. SunTrust Banks analyst J. Demba now anticipates that the bank will earn $1.25 per share for the quarter, up from their prior forecast of $1.09. SunTrust Banks currently has a “Buy” rating and a $77.00 price target on the stock.

Several other equities analysts also recently weighed in on PB. ValuEngine downgraded Prosperity Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Jaffray Companies reiterated a “hold” rating and set a $73.00 target price on shares of Prosperity Bancshares in a research report on Tuesday. Zacks Investment Research upgraded Prosperity Bancshares from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Friday, December 29th. Hovde Group downgraded Prosperity Bancshares from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $70.00 to $68.00 in a research report on Tuesday, January 2nd. Finally, Barclays increased their target price on Prosperity Bancshares from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $73.27.

Prosperity Bancshares (NYSE PB) traded up $1.50 during midday trading on Tuesday, reaching $74.35. The company had a trading volume of 570,889 shares, compared to its average volume of 482,586. Prosperity Bancshares has a 1 year low of $55.84 and a 1 year high of $77.87. The stock has a market capitalization of $5,060.00, a P/E ratio of 18.87, a PEG ratio of 1.67 and a beta of 1.37.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, October 25th. The bank reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. Prosperity Bancshares had a return on equity of 7.38% and a net margin of 34.79%. The firm had revenue of $184.96 million for the quarter, compared to the consensus estimate of $185.59 million. During the same period in the prior year, the business posted $0.99 earnings per share.

A number of large investors have recently made changes to their positions in PB. Janus Henderson Group PLC increased its stake in Prosperity Bancshares by 108.1% during the third quarter. Janus Henderson Group PLC now owns 1,957,916 shares of the bank’s stock worth $128,701,000 after acquiring an additional 1,017,115 shares during the last quarter. Koch Industries Inc. acquired a new stake in Prosperity Bancshares during the second quarter worth about $333,000. Deprince Race & Zollo Inc. increased its stake in Prosperity Bancshares by 59.5% during the third quarter. Deprince Race & Zollo Inc. now owns 684,927 shares of the bank’s stock worth $45,020,000 after acquiring an additional 255,384 shares during the last quarter. FMR LLC increased its stake in Prosperity Bancshares by 14.5% during the second quarter. FMR LLC now owns 1,980,933 shares of the bank’s stock worth $127,255,000 after acquiring an additional 251,330 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Prosperity Bancshares by 3,568.8% during the third quarter. Envestnet Asset Management Inc. now owns 190,669 shares of the bank’s stock worth $12,532,000 after acquiring an additional 185,472 shares during the last quarter. Institutional investors own 76.80% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, December 14th. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 1.94%. Prosperity Bancshares’s dividend payout ratio is currently 36.55%.

TRADEMARK VIOLATION WARNING: This report was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.watchlistnews.com/q4-2018-eps-estimates-for-prosperity-bancshares-inc-pb-lifted-by-suntrust-banks/1803483.html.

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.

Receive News & Ratings for Prosperity Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prosperity Bancshares and related companies with Analyst Ratings Network's FREE daily email newsletter.