Prosperity Bancshares, Inc. (NYSE:PB) Given Average Recommendation of “Hold” by Analysts


Prosperity Bancshares, Inc. (NYSE:PB) has been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $73.11.

Several analysts have recently weighed in on PB shares. Morgan Stanley lifted their target price on shares of Prosperity Bancshares from $81.00 to $84.00 and gave the company an “equal weight” rating in a report on Tuesday, May 4th. Truist Securities lifted their target price on shares of Prosperity Bancshares from $78.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, March 9th. Raymond James lifted their target price on shares of Prosperity Bancshares from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Wednesday, April 7th. Finally, Truist lifted their target price on shares of Prosperity Bancshares from $78.00 to $88.00 in a report on Monday, March 8th.

NYSE PB opened at $69.86 on Friday. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.34 and a beta of 1.29. Prosperity Bancshares has a one year low of $48.80 and a one year high of $83.02. The company has a fifty day simple moving average of $75.08.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Tuesday, April 27th. The bank reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. The company had revenue of $288.59 million for the quarter, compared to analyst estimates of $282.46 million. Prosperity Bancshares had a net margin of 42.48% and a return on equity of 8.50%. During the same period in the previous year, the business posted $1.39 earnings per share. As a group, analysts expect that Prosperity Bancshares will post 5.59 EPS for the current fiscal year.

(Ad)

If you own a cell phone, then mobile service providers hope you never get to see this video that could soon go viral.

His experiment could strike a bad chord with mobile phone companies. But you’ve got to see what this man discovered and what it means for phone users in the weeks ahead.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Tuesday, June 15th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, June 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 35.38%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. FORA Capital LLC purchased a new stake in shares of Prosperity Bancshares in the first quarter valued at about $26,000. First Mercantile Trust Co. purchased a new stake in shares of Prosperity Bancshares in the first quarter valued at about $27,000. Marshall Wace North America L.P. purchased a new stake in shares of Prosperity Bancshares in the first quarter valued at about $35,000. First Horizon Advisors Inc. lifted its holdings in shares of Prosperity Bancshares by 235.5% in the first quarter. First Horizon Advisors Inc. now owns 661 shares of the bank’s stock valued at $49,000 after purchasing an additional 464 shares in the last quarter. Finally, TCTC Holdings LLC acquired a new position in shares of Prosperity Bancshares in the first quarter valued at approximately $66,000. 78.12% of the stock is currently owned by institutional investors.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts; and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural real estate, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.

Featured Story: Dual Listing

Analyst Recommendations for Prosperity Bancshares (NYSE:PB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: How to Track your Portfolio in Google Finance

7 Electric Vehicle (EV) Stocks That Are Ready to Rebound

The electric vehicle (EV) sector was nearly as frothy as the “pandemic stocks” in 2020. It wasn’t that the EV sector was dormant during the Trump administration.

But, as the saying goes, elections have consequences. And Wall Street understands they can make money in any administration. And as a bet that Joe Biden would win the presidency, electric vehicle stocks soared.

For starters, the Biden administration has already said it will prioritize climate change like no administration ever has. And one way they are going to do that is to incentivize the production and purchase of electric vehicles.

And to take advantage of this shift towards electric vehicle stocks, many private companies raced to get in on the action. The preferred way for many of these companies to go public was via a Special Purpose Acquisition Company (SPAC). A SPAC is basically a shortcut to the traditional IPO process.

However, what goes up frequently goes down and since late February, EV stocks have been getting battered. But this is creating an opportunity because the electric vehicle is still supposed to see exceptional growth over the next five years.

To help you take advantage of this we’ve created this special presentation that includes seven stocks that appear to be ready to take the next leg up.

View the “7 Electric Vehicle (EV) Stocks That Are Ready to Rebound “.



Read More:Prosperity Bancshares, Inc. (NYSE:PB) Given Average Recommendation of “Hold” by Analysts

Leave a Reply

Your email address will not be published. Required fields are marked *