Prosperity Bancshares (NYSE: PB) has recently received a number of price target changes and ratings updates:

  • 8/10/2017 – Prosperity Bancshares was downgraded by analysts at UBS AG to an “underperform” rating.
  • 8/10/2017 – Prosperity Bancshares had its “underperform” rating reaffirmed by analysts at Raymond James Financial, Inc..
  • 8/3/2017 – Prosperity Bancshares is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $72.00 price target on the stock.
  • 7/27/2017 – Prosperity Bancshares had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $73.00 price target on the stock.
  • 7/26/2017 – Prosperity Bancshares was given a new $73.00 price target on by analysts at Stephens. They now have a “hold” rating on the stock.
  • 7/16/2017 – Prosperity Bancshares was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/14/2017 – Prosperity Bancshares had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $73.50 price target on the stock.
  • 7/4/2017 – Prosperity Bancshares was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Prosperity Bancshares underperformed the Zacks categorized Banks-Southwest industry over the last six months. The company's margins remain under pressure owing to its liability sensitive balance sheet, despite the improving rate scenario. While the passage of the Financial Choice Act, which along with improving loan and deposit balances should lead to improvement in top-line, the company’s plan to grow inorganically may lead to higher merger related charges, resulting in a rise in operating expenses. Also, as a major part of the company's portfolio consists of real estate loans, any deterioration in the prices will weigh on the company’s financials.”
  • 6/27/2017 – Prosperity Bancshares was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 6/26/2017 – Prosperity Bancshares had its price target lowered by analysts at Hovde Group from $70.00 to $68.00. They now have a “market perform” rating on the stock.
  • 6/20/2017 – Prosperity Bancshares was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Prosperity Bancshares, Inc. (PB) traded down 0.77% during mid-day trading on Tuesday, reaching $62.89. The company’s stock had a trading volume of 267,598 shares. The firm has a market cap of $4.37 billion, a PE ratio of 15.92 and a beta of 1.33. Prosperity Bancshares, Inc. has a one year low of $52.19 and a one year high of $77.87. The stock’s 50 day moving average is $64.35 and its 200 day moving average is $67.82.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, July 26th. The bank reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by $0.01. The firm had revenue of $180.01 million for 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 in the previous year, the business posted $0.98 EPS. On average, analysts anticipate that Prosperity Bancshares, Inc. will post $3.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, September 14th. Prosperity Bancshares’s payout ratio is 34.34%.

In related news, Director Robert H. Steelhammer sold 4,000 shares of the firm’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $64.35, for a total transaction of $257,400.00. Following the transaction, the director now owns 147,800 shares of the company’s stock, valued at $9,510,930. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert H. Steelhammer sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $65.10, for a total value of $651,000.00. Following the transaction, the director now directly owns 156,800 shares in the company, valued at approximately $10,207,680. The disclosure for this sale can be found here. Company insiders own 4.93% of the company’s stock.

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.

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