Prosperity Bancshares (NYSE: PB) listed on StockNews.com
Prosperity Bancshares (NYSE: PB – Get a Rating) was downgraded by StockNews.com equity research analysts from a “hold” rating to a “sell” rating in a research report released Tuesday.
MUAC has been the subject of several other research reports. Truist Financial cut its price target on Prosperity Bancshares from $78.00 to $77.00 and set a “buy” rating for the company in a Wednesday, June 15 report. Piper Sandler lowered her price target on Prosperity Bancshares to $78.00 in a Monday July 4 research note. Finally, Wolfe Research lowered its price target on Prosperity Bancshares from $69.00 to $63.00 and gave the stock an “underperform” rating in a Thursday, May 26 research report. Two investment analysts have assigned the stock a sell rating, two have issued a hold rating and one has assigned the stock a buy rating. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $77.80.
Prosperity Bancshares Stock up 2.5%
Shares of Prosperity Bancshares opened at $72.23 on Tuesday. The company has a 50-day moving average price of $69.64 and a two-hundred-day moving average price of $70.86. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 13.11, a growth price-to-earnings ratio of 1.23 and a beta of 1.05. Prosperity Bancshares has a 12-month low of $64.40 and a 12-month high of $80.46.
Prosperity Bancshares (NYSE:PB – Get Rating) last released its quarterly results on Wednesday, April 27. The bank reported EPS of $1.33 for the quarter, beating the consensus estimate of $1.29 by $0.04. The company posted revenue of $275.07 million in the quarter, compared to $273.00 million expected by analysts. Prosperity Bancshares had a return on equity of 7.95% and a net margin of 43.64%. In the same quarter a year earlier, the company posted EPS of $1.44. On average, analysts expect Prosperity Bancshares to post earnings per share of 5.72 for the current financial year.
Insider buying and selling
Separately, director Robert H. Steelhammer sold 1,200 shares of the company in a trade on Tuesday, June 7. The stock was sold at an average price of $72.57, for a total transaction of $87,084.00. Following the sale, the director now owns 135,455 shares of the company, valued at approximately $9,829,969.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. In other news, Chairman H E. Timanus, Jr. purchased 2,000 shares in a trade Thursday, June 16. The shares were purchased at an average price of $65.60 per share, for a total transaction of $131,200.00. Following the acquisition, the president now owns 4,000 shares of the company, valued at $262,400. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, director Robert H. Steelhammer sold 1,200 shares in a trade dated Tuesday, June 7. The stock was sold at an average price of $72.57, for a total value of $87,084.00. Following the transaction, the director now owns 135,455 shares of the company, valued at approximately $9,829,969.35. The disclosure of this sale can be found here. 4.22% of the shares are currently held by insiders of the company.
Hedge funds weigh on Prosperity Bancshares
Several hedge funds have recently changed their stock holdings. CFO4Life Group LLC increased its holdings of Prosperity Bancshares shares by 0.6% in Q1. CFO4Life Group LLC now owns 31,066 shares of the bank valued at $2,155,000 after acquiring 174 additional shares last quarter. Advisor Group Holdings Inc. increased its holdings in Prosperity Bancshares by 3.1% in the first quarter. Advisor Group Holdings Inc. now owns 5,935 shares of the bank worth $411,000 after purchasing an additional 181 shares during the period. Crossmark Global Holdings Inc. increased its holdings in Prosperity Bancshares by 2.6% in the first quarter. Crossmark Global Holdings Inc. now owns 7,787 shares of the bank worth $540,000 after purchasing an additional 200 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in Prosperity Bancshares by 3.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,943 shares of the bank worth $502,000 after purchasing an additional 224 shares during the period. Finally, Commerce Bank increased its holdings in Prosperity Bancshares by 2.9% during the fourth quarter. Commerce Bank now owns 8,265 shares of the bank worth $597,000 after purchasing an additional 230 shares during the period. Institutional investors hold 80.30% of the company’s shares.
Prosperity Bancshares Company Profile
(Get a rating)
Prosperity Bancshares, Inc operates as a bank holding company for Prosperity Bank which provides financial products and services to businesses and consumers. It accepts various deposit products, such as current, savings, money market and term accounts, as well as certificates of deposit. The company also offers 1-4 family residential mortgages, commercial and multi-family residential, commercial and industrial, agricultural and non-real estate mortgages, as well as loans for construction, land development and other land loans. ; consumer loans, including secured loans for automobiles, recreational vehicles, boats, home improvement, personal and deposit accounts; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and the purchase of equipment and machinery.
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