Media headlines about Prosperity Bancshares (NYSE:PB) have trended somewhat positive on Thursday, according to Accern. Accern identifies positive and negative press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Prosperity Bancshares earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned media headlines about the bank an impact score of 46.7311887510651 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Shares of Prosperity Bancshares (NYSE:PB) opened at 61.50 on Thursday. The stock’s 50 day moving average is $61.47 and its 200 day moving average is $65.33. The stock has a market cap of $4.27 billion, a P/E ratio of 15.57 and a beta of 1.34. Prosperity Bancshares has a 12 month low of $52.44 and a 12 month high of $77.87.
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 Thomson Reuters’ consensus estimate of $1.00 by ($0.01). Prosperity Bancshares had a net margin of 35.20% and a return on equity of 7.49%. The firm had revenue of $180.01 million during the quarter, compared to analyst estimates of $187.13 million. During the same period last year, the business earned $0.98 EPS. Analysts predict that Prosperity Bancshares will post $3.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, September 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 34.34%.
A number of brokerages recently weighed in on PB. Piper Jaffray Companies restated a “hold” rating and issued a $73.50 price objective on shares of Prosperity Bancshares in a report on Friday, July 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $73.00 price target on shares of Prosperity Bancshares in a research note on Tuesday, August 29th. Morgan Stanley upgraded shares of Prosperity Bancshares from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $63.00 to $65.00 in a research note on Monday, June 5th. They noted that the move was a valuation call. UBS AG downgraded shares of Prosperity Bancshares to an “underperform” rating in a research note on Thursday, August 10th. Finally, Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Prosperity Bancshares in a research note on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $71.23.
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In other news, Director Robert H. Steelhammer sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $61.51, for a total transaction of $307,550.00. Following the completion of the transaction, the director now directly owns 142,800 shares in the company, valued at approximately $8,783,628. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert H. Steelhammer sold 4,000 shares of the stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $64.35, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,000 shares of company stock valued at $864,950. Company insiders own 4.93% of the company’s stock.
Prosperity Bancshares Company Profile
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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