Prosperity Bancshares (NYSE:PB) Receiving Somewhat Favorable Media Coverage, Analysis Shows

News coverage about Prosperity Bancshares (NYSE:PB) has been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group scores the sentiment of news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Prosperity Bancshares earned a daily sentiment score of 0.09 on Accern’s scale. Accern also assigned press coverage about the bank an impact score of 47.8426643460497 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Prosperity Bancshares (NYSE:PB) traded down $1.07 during trading on Wednesday, reaching $76.74. 134,363 shares of the company’s stock were exchanged, compared to its average volume of 399,769. The firm has a market cap of $5,495.75, a price-to-earnings ratio of 19.80, a PEG ratio of 1.65 and a beta of 1.32. Prosperity Bancshares has a 12 month low of $55.84 and a 12 month high of $79.20.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, January 24th. The bank reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.01). Prosperity Bancshares had a return on equity of 7.28% and a net margin of 34.28%. The business had revenue of $185.27 million for the quarter, compared to analyst estimates of $185.43 million. During the same quarter last year, the company earned $0.99 earnings per share. analysts anticipate that Prosperity Bancshares will post 4.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders 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 1.88%. The ex-dividend date of this dividend is Thursday, March 15th. Prosperity Bancshares’s payout ratio is currently 36.64%.

Prosperity Bancshares declared that its Board of Directors has initiated a stock buyback program on Friday, January 19th that allows the company to buyback 3,470,000 outstanding shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

A number of research analysts recently issued reports on PB shares. SunTrust Banks restated a “buy” rating and set a $77.00 target price on shares of Prosperity Bancshares in a research report on Wednesday, November 29th. ValuEngine upgraded shares of Prosperity Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $79.00 price objective on shares of Prosperity Bancshares in a research report on Friday, December 22nd. Zacks Investment Research upgraded shares of Prosperity Bancshares from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Friday, December 29th. Finally, Hovde Group downgraded shares of Prosperity Bancshares from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $70.00 to $68.00 in a research report on Tuesday, January 2nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $74.45.

In related news, insider Michael Epps sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $75.15, for a total value of $300,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Hollaway sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $76.32, for a total transaction of $381,600.00. 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. 4.93% of the stock is currently owned by insiders.

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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.

Insider Buying and Selling by Quarter for Prosperity Bancshares (NYSE:PB)

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