Prosperity Bancshares (NYSE:PB) Stock Price Passes Below 50 Day Moving Average of $66.54

Prosperity Bancshares, Inc. (NYSE:PB)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $66.54 and traded as low as $66.35. Prosperity Bancshares shares last traded at $66.96, with a volume of 10,221 shares changing hands.

Several equities research analysts recently issued reports on PB shares. Raymond James set a C$80.00 price target on shares of West Fraser Timber and gave the company a “strong-buy” rating in a report on Tuesday, June 18th. Stephens set a $74.00 price target on shares of Prosperity Bancshares and gave the company a “hold” rating in a report on Monday, June 17th. Zacks Investment Research raised shares of IMI PLC/S from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. FIG Partners reaffirmed an “outperform” rating on shares of Two Rivers Bancorp in a report on Wednesday, April 24th. Finally, Sanford C. Bernstein lowered shares of SVB Financial Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $73.95.

The firm has a market capitalization of $4.67 billion, a PE ratio of 14.52, a P/E/G ratio of 1.68 and a beta of 1.36. The business has a fifty day moving average of $66.54.

Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, April 24th. The bank reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.01. Prosperity Bancshares had a net margin of 38.42% and a return on equity of 8.20%. The firm had revenue of $183.06 million for the quarter, compared to analyst estimates of $185.27 million. During the same period in the previous year, the firm posted $1.07 EPS. Equities research analysts predict that Prosperity Bancshares, Inc. will post 4.78 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, June 13th. Prosperity Bancshares’s payout ratio is 35.57%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new stake in shares of Prosperity Bancshares in the 1st quarter valued at $35,000. Captrust Financial Advisors boosted its stake in shares of Prosperity Bancshares by 513.1% in the 4th quarter. Captrust Financial Advisors now owns 607 shares of the bank’s stock valued at $38,000 after purchasing an additional 508 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Prosperity Bancshares by 88.3% in the 4th quarter. Advisory Services Network LLC now owns 900 shares of the bank’s stock valued at $56,000 after purchasing an additional 422 shares during the last quarter. Lake Point Wealth Management bought a new stake in shares of Prosperity Bancshares in the 4th quarter valued at $56,000. Finally, World Asset Management Inc bought a new stake in shares of Prosperity Bancshares in the 1st quarter valued at $216,000. 82.48% of the stock is currently owned by hedge funds and other institutional investors.

Prosperity Bancshares Company Profile (NYSE:PB)

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage 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.

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