News articles about Prosperity Bancshares (NYSE:PB) have trended positive recently, Accern Sentiment Analysis reports. Accern identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Prosperity Bancshares earned a coverage optimism score of 0.43 on Accern’s scale. Accern also gave news headlines about the bank an impact score of 91 out of 100, meaning that recent news coverage is extremely likely to have an effect on the company’s share price in the immediate future.
These are some of the headlines that may have impacted Accern Sentiment’s scoring:
- $1.00 Earnings Per Share Expected for Prosperity Bancshares, Inc. (PB) This Quarter (americanbankingnews.com)
- The Barings LLC Continues to Hold Position in Prosperity Bancshares, Inc. (PB) (overnewsmagazine.com)
- Prosperity Bancshares, Inc. (PB) Downgraded by BidaskClub to Strong Sell (lazeresportes.com)
- Barclays: Time To Buy Prosperity Bancshares (NYSE:PB)? Has $72 Valuation Target (bulhufas.com)
Prosperity Bancshares (NYSE PB) traded up 0.35% on Tuesday, hitting $65.60. 465,074 shares of the company were exchanged. The company has a market capitalization of $4.56 billion, a P/E ratio of 16.61 and a beta of 1.33. Prosperity Bancshares has a 52 week low of $51.30 and a 52 week high of $77.87. The firm’s 50 day moving average is $64.40 and its 200 day moving average is $68.27.
Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings results on Wednesday, July 26th. 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 7.49% and a net margin of 35.20%. The firm had revenue of $180.01 million for the quarter, compared to analysts’ expectations of $187.13 million. During the same period last year, the company posted $0.98 earnings per share. On average, equities research analysts forecast that Prosperity Bancshares will post $3.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, September 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 34.34%.
Several research analysts have recently weighed in on PB shares. Keefe, Bruyette & Woods cut shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $81.00 to $76.00 in a research note on Thursday, April 27th. Wedbush upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $67.00 price target on the stock in a research note on Friday, May 19th. 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. BidaskClub cut shares of Prosperity Bancshares from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Finally, Hovde Group dropped their price target on shares of Prosperity Bancshares from $70.00 to $68.00 and set a “market perform” rating on the stock in a research note on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. Prosperity Bancshares presently has an average rating of “Hold” and an average price target of $71.25.
In other Prosperity Bancshares news, Director Robert H. Steelhammer sold 4,000 shares of the stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $64.35, for a total transaction of $257,400.00. Following the transaction, the director now directly owns 147,800 shares of the company’s stock, valued at $9,510,930. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert H. Steelhammer sold 10,000 shares of the stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $65.10, for a total transaction of $651,000.00. Following the transaction, the director now directly owns 156,800 shares in the company, valued at $10,207,680. The disclosure for this sale can be found here. Corporate 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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