Prosperity Bancshares (PB) Projected to Post Earnings on Wednesday

Prosperity Bancshares (NYSE:PB) is anticipated to announce its earnings results before the market opens on Wednesday, January 29th. Analysts expect the company to announce earnings of $1.33 per share and revenue of $303,209.58 billion for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Prosperity Bancshares Trading Up 0.9 %

NYSE:PB opened at $79.13 on Monday. The company has a market capitalization of $7.54 billion, a P/E ratio of 16.80, a PEG ratio of 1.11 and a beta of 0.93. Prosperity Bancshares has a 12 month low of $57.16 and a 12 month high of $86.75. The firm has a fifty day simple moving average of $78.93 and a 200-day simple moving average of $74.67.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is presently 49.26%.

Insider Activity at Prosperity Bancshares

In other Prosperity Bancshares news, Director Leah Henderson sold 1,100 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $83.24, for a total transaction of $91,564.00. Following the transaction, the director now directly owns 7,525 shares of the company’s stock, valued at $626,381. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.96, for a total transaction of $41,980.00. Following the completion of the sale, the director now owns 114,315 shares in the company, valued at approximately $9,597,887.40. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,600 shares of company stock worth $1,196,144 in the last 90 days. Corporate insiders own 4.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PB shares. StockNews.com downgraded Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. UBS Group decreased their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, December 26th. DA Davidson lowered shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $80.00 to $78.00 in a research note on Tuesday, October 15th. Wedbush restated an “outperform” rating and set a $90.00 target price on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Prosperity Bancshares currently has an average rating of “Hold” and an average target price of $81.38.

About Prosperity Bancshares

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; term loans and lines of credit; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.