Prosperity Bancshares (NYSE:PB)'s stock had its "hold" rating restated by equities researchers at Piper Jaffray Companies in a research report issued on Tuesday.
Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded Live Oak Bancshares from a "sell" rating to a "hold" rating in a research note on Wednesday, October 11th. SunTrust Banks reiterated a "buy" rating and issued a $77.00 target price on shares of Prosperity Bancshares in a research note on Wednesday, November 29th. SunTrust Banks reiterated a buy rating and issued a $73.00 target price on shares of Prosperity Bancshares in a research note on Monday, October 2nd. Sandler O'Neill maintained it with "Buy" rating and $26.0 target in Thursday, January 4 report. Prosperity Bancshares now has a consensus rating of "Hold" and a consensus price target of $73.27.
Shares of Prosperity Bancshares (NYSE:PB) traded up $1.85 on Tuesday, reaching $72.85. 580,100 shares of the stock were exchanged, compared to its average volume of 438,600. Prosperity Bancshares has a 52-week low of $55.84 and a 52-week high of $77.87. The company has a market capitalization of $5,060.00, a PE ratio of 18.49, a PEG ratio of 1.67 and a beta of 1.37.
Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.96 by $0.02. The firm had revenue of $184.96 million for the quarter, compared to analysts' expectations of $185.59 million. Live Oak Bancshares had a return on equity of 13.60% and a net margin of 17.68%. sell-side analysts anticipate that Live Oak Bancshares will post 1.07 EPS for the current fiscal year. After having $0.98 EPS previously, Prosperity Bancshares, Inc.'s analysts see 2.04 % EPS growth.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were given a dividend of $0.36 per share. PNC Financial Services Group Inc. grew its stake in shares of Prosperity Bancshares by 8.3% in the 2nd quarter. This represents a $1.44 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, December 14th. Prosperity Bancshares's dividend payout ratio (DPR) is presently 36.55%.
Institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc. now owns 23,200 shares of the bank's stock worth $1,490,000 after acquiring an additional 1,900 shares during the period. Teacher Retirement System of Texas grew its position in shares of Prosperity Bancshares by 2.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,489 shares of the bank's stock worth $160,000 after purchasing an additional 369 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Prosperity Bancshares by 64.8% in the second quarter. California State Teachers Retirement System now owns 41,415 shares of the company's stock valued at $597,000 after buying an additional 400 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Live Oak Bancshares during the third quarter valued at $227,000. Jennison Associates LLC now owns 34,495 shares of the bank's stock worth $2,216,000 after acquiring an additional 2,261 shares during the period. Finally, Utah Retirement Systems bought a new position in Prosperity Bancshares in the second quarter worth approximately $780,000.
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Live Oak Bancshares, Inc is a bank holding company. The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The firm offers various deposit products, including demand, savings, money market, and time accounts.