Prosperity Bancshares, Inc. (NYSE:PB) has received an average recommendation of “Hold” from the fifteen research firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $74.00.

Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Prosperity Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday. DA Davidson lifted their price objective on shares of Prosperity Bancshares to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. SunTrust Banks reiterated a “buy” rating and issued a $85.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, January 25th. ValuEngine cut shares of Prosperity Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $73.00 target price on shares of Prosperity Bancshares in a research report on Tuesday, January 9th.

Shares of Prosperity Bancshares (NYSE:PB) traded up $2.16 during trading on Friday, reaching $76.92. 223,405 shares of the company’s stock traded hands, compared to its average volume of 443,120. Prosperity Bancshares has a twelve month low of $55.84 and a twelve month high of $77.89. The firm has a market cap of $5,175.69, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.56 and a beta of 1.37.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.01). Prosperity Bancshares had a return on equity of 7.28% and a net margin of 34.28%. The business had revenue of $185.27 million during the quarter, compared to analyst estimates of $185.43 million. During the same quarter last year, the firm earned $0.99 EPS. equities research analysts anticipate that Prosperity Bancshares will post 4.78 earnings per share for the current fiscal year.

Prosperity Bancshares announced that its board has approved a share buyback plan on Friday, January 19th that permits the company to repurchase 3,470,000 outstanding shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 16th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, March 15th. Prosperity Bancshares’s payout ratio is 36.64%.

In other Prosperity Bancshares news, insider Michael Epps sold 4,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $75.15, for a total transaction of $300,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David Hollaway sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $76.32, for a total transaction of $381,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,800 shares of company stock worth $818,280. Insiders own 4.93% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in Prosperity Bancshares by 8.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,424 shares of the bank’s stock valued at $156,000 after buying an additional 185 shares during the period. Amalgamated Bank boosted its position in shares of Prosperity Bancshares by 5.9% in the fourth quarter. Amalgamated Bank now owns 13,428 shares of the bank’s stock valued at $941,000 after acquiring an additional 743 shares during the period. North Star Asset Management Inc. raised its stake in Prosperity Bancshares by 0.9% in the second quarter. North Star Asset Management Inc. now owns 85,230 shares of the bank’s stock valued at $5,475,000 after purchasing an additional 757 shares in the last quarter. Wright Investors Service Inc. raised its stake in Prosperity Bancshares by 20.0% in the third quarter. Wright Investors Service Inc. now owns 5,275 shares of the bank’s stock valued at $347,000 after purchasing an additional 880 shares in the last quarter. Finally, TD Asset Management Inc. raised its stake in Prosperity Bancshares by 3.9% in the third quarter. TD Asset Management Inc. now owns 24,100 shares of the bank’s stock valued at $1,584,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 76.63% of the company’s stock.

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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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