News articles about Prosperity Bancshares (NYSE:PB) have been trending somewhat positive on Friday, Accern Sentiment reports. Accern rates the sentiment of media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Prosperity Bancshares earned a coverage optimism score of 0.13 on Accern’s scale. Accern also assigned headlines about the bank an impact score of 45.9818253119528 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Several equities analysts have recently weighed in on the company. DA Davidson lifted their price objective on Prosperity Bancshares to $80.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. ValuEngine raised Prosperity Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research lowered Prosperity Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. SunTrust Banks reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, January 25th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Prosperity Bancshares in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $74.45.
Prosperity Bancshares (NYSE:PB) opened at $73.38 on Friday. The firm has a market capitalization of $5,325.37, a PE ratio of 18.67, a PEG ratio of 1.60 and a beta of 1.32. Prosperity Bancshares has a 52 week low of $55.84 and a 52 week high of $79.20.
Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, January 24th. The bank reported $0.99 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.01). The company had revenue of $185.27 million for the quarter, compared to analyst estimates of $185.43 million. Prosperity Bancshares had a return on equity of 7.28% and a net margin of 34.28%. During the same period last year, the firm posted $0.99 earnings per share. research analysts predict that Prosperity Bancshares will post 4.78 EPS for the current year.
Prosperity Bancshares declared that its board has approved a stock repurchase program on Friday, January 19th that authorizes the company to buyback 3,470,000 outstanding shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 16th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, March 15th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 36.64%.
In related news, insider Michael Epps sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $75.15, for a total transaction of $300,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Hollaway sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $75.60, for a total value of $136,080.00. Following the transaction, the chief financial officer now directly owns 168,684 shares in the company, valued at $12,752,510.40. The disclosure for this sale can be found here. Insiders have sold a total of 10,800 shares of company stock worth $818,280 over the last three months. 5.05% of the stock is currently owned by corporate insiders.
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Prosperity Bancshares Company Profile
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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