Prosperity Bancshares (PB) Expected to Announce Earnings on Wednesday

Prosperity Bancshares (NYSE:PB) is expected to release its earnings data before the market opens on Wednesday, January 29th. Analysts expect Prosperity Bancshares to post earnings of $1.33 per share and revenue of $303,209.58 billion for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Prosperity Bancshares Stock Up 1.2 %

Shares of Prosperity Bancshares stock opened at $80.21 on Tuesday. The stock has a market capitalization of $7.64 billion, a P/E ratio of 17.03, a price-to-earnings-growth 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 company has a 50-day simple moving average of $78.89 and a 200 day simple moving average of $74.79.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 49.26%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. DA Davidson cut shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $80.00 to $78.00 in a research report on Tuesday, October 15th. StockNews.com cut Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Barclays boosted their price objective on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Tuesday, January 7th. Finally, UBS Group cut their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, December 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Prosperity Bancshares currently has an average rating of “Hold” and a consensus target price of $81.38.

Insiders Place Their Bets

In related news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.96, for a total transaction of $41,980.00. Following the sale, the director now owns 114,315 shares in the company, valued at approximately $9,597,887.40. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Harrison Stafford II sold 4,000 shares of Prosperity Bancshares stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the transaction, the director now directly owns 107,137 shares of the company’s stock, valued at approximately $8,578,459.59. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,600 shares of company stock worth $1,196,144. Company insiders own 4.28% of the company’s stock.

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.