The stock of Prosperity Bancshares Inc. (NYSE:PB) last traded at $67.10, down -4.51% from the previous session.
Data from the available sources indicates that Prosperity Bancshares Inc. (NYSE:PB) is covered by 14 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $85.00 and a low of $69.00, we find $81.00. Given the previous closing price of $70.27, this indicates a potential upside of 15.27 percent. PB stock price is now -9.53% away from the 50-day moving average and -6.96% away from the 200-day moving average. The market capitalization of the company currently stands at $6.04B.
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In total, 7 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $79.14 as their price target over the next twelve months.
With the price target maintained at $85, Raymond James recently Upgraded its rating from Mkt Perform to Outperform for Prosperity Bancshares Inc. (NYSE: PB). On January 26, 2023, Janney Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock keeping its target price maintained at $80, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’.
In other news, STEELHAMMER ROBERT H, Director sold 1,000 shares of the company’s stock on Mar 06. The stock was sold for $71,855 at an average price of $71.85. Upon completion of the transaction, the Director now directly owns 134,455 shares in the company, valued at $9.02 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 28, Director Fisk George A. sold 1,100 shares of the business’s stock. A total of $77,418 was realized by selling the stock at an average price of $70.38. This leaves the insider owning 92,511 shares of the company worth $6.21 million. Insiders disposed of 5,300 shares of company stock worth roughly $0.36 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PB stock. A new stake in Prosperity Bancshares Inc. shares was purchased by BALYASNY ASSET MANAGEMENT LLC during the first quarter worth $29,607,000. NN INVESTMENT PARTNERS HOLDINGS N.V. invested $10,965,000 in shares of PB during the first quarter. In the first quarter, CITADEL ADVISORS LLC acquired a new stake in Prosperity Bancshares Inc. valued at approximately $5,509,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in PB for approximately $4,248,000. JACOBS ASSET MANAGEMENT, LLC purchased a new stake in PB valued at around $3,355,000 in the second quarter. In total, there are 435 active investors with 85.70% ownership of the company’s stock.
With an opening price of $69.78 on Thursday morning, Prosperity Bancshares Inc. (NYSE: PB) set off the trading day. During the past 12 months, Prosperity Bancshares Inc. has had a low of $64.69 and a high of $78.76. The fifty day moving average price for PB is $74.17 and a two-hundred day moving average price translates $72.12 for the stock.
The latest earnings results from Prosperity Bancshares Inc. (NYSE: PB) was released for Dec, 2022. According to the Banks – Regional Company, earnings per share came in at $1.51, beating analysts’ expectations of $1.49 by 0.02. This compares to $1.36 EPS in the same period last year. The net profit margin was 47.90% and return on equity was 8.00% for PB. The company reported revenue of $308.59 million for the quarter, compared to $253.63 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.67 percent. For the current quarter, analysts expect PB to generate $288.16M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/03/2023. Investors who held shares on 03/15/2023 were paid a $0.55 dividend. On an annualized basis, this represents a $2.20 dividend and a 3.28% percent yield. There was an ex-dividend date of 03/14/2023 for this dividend. In terms of dividend payout ratio, PB is presently at 36.80%.
Prosperity Bancshares Inc.(PB) Company Profile
Prosperity Bancshares, Inc. operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, 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. In addition, it provides internet banking, mobile banking, trust and wealth management, retail brokerage, mortgage services, and treasury management, as well as debit and credit cards. Prosperity Bancshares, Inc. was founded in 1983 and is based in Houston, Texas.
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