November 23, 2016 - By Marie Mckinney
Edward Safady, the insider, who is right now a President of Prosperity Bancshares Inc made a sale of roughly 5,000 shares of the company with market value around $330,753 U.S Dollars based on an average weighted cost of 66.2 U.S Dollars per share. Mr. Edward presently holds 97,582 shares, accounting for 0.14% of Prosperity Bancshares Inc’s total market capitalization.
Out of 12 analysts covering Prosperity Bancshares (NYSE:PB), 5 rate it a “Buy”, 4 “Sell”, while 3 “Hold”. This means 42% are positive. $60 is the highest target while $46 is the lowest. The $53.43 average target is -19.28% below today’s ($66.19) stock price. Prosperity Bancshares has been the topic of 25 analyst reports since July 28, 2015 according to StockzIntelligence Inc. As per Wednesday, August 26, the company rating was upgraded by Sterne Agee CRT. The firm has “Underweight” rating given on Wednesday, November 16 by Morgan Stanley. As per Friday, October 7, the company rating was initiated by Wedbush. Hovde Group downgraded the stock to “Market Perform” rating in Friday, November 18 report. The rating was upgraded by Raymond James to “Outperform” on Monday, May 9. FBR Capital maintained Prosperity Bancshares, Inc. (NYSE:PB) rating on Tuesday, July 28. FBR Capital has “Mkt Perform” rating and $50 price target. JP Morgan initiated the stock with “Underweight” rating in Tuesday, January 5 report. RBC Capital Markets maintained Prosperity Bancshares, Inc. (NYSE:PB) on Thursday, January 28 with “Sector Perform” rating. Bank of America downgraded the stock to “Underperform” rating in Tuesday, January 12 report. The rating was upgraded by Hovde Group on Wednesday, June 29 to “Outperform”.
Insitutional Activity: The institutional sentiment increased to 1.33 in 2016 Q2. Its up 0.32, from 1.01 in 2016Q1. The ratio increased, as 14 funds sold all Prosperity Bancshares, Inc. shares owned while 74 reduced positions. 23 funds bought stakes while 66 increased positions. They now own 49.54 million shares or 4.59% less from 51.92 million shares in 2016Q1.
Stifel holds 0% of its portfolio in Prosperity Bancshares, Inc. (NYSE:PB) for 9,234 shares. Td Asset Mngmt last reported 0% of its portfolio in the stock. Gsa Capital Prns Llp last reported 25,768 shares in the company. Panagora Asset Mngmt Inc accumulated 21,235 shares or 0.01% of the stock. Sei Invs Communications reported 45,455 shares or 0.01% of all its holdings. Copeland Mgmt Lc accumulated 113,570 shares or 0.4% of the stock. Sg Americas Ltd Liability holds 17,562 shares or 0.01% of its portfolio. Miller Howard Inc holds 0.01% or 9,271 shares in its portfolio. Moreover, Alps Advsrs Inc has 0% invested in Prosperity Bancshares, Inc. (NYSE:PB) for 8,982 shares. Private Mgmt Grp Inc, a California-based fund reported 346,796 shares. North Star Asset Mngmt Incorporated, a Wisconsin-based fund reported 84,302 shares. Us Bancshares De has 6,412 shares for 0% of their US portfolio. Fmr Ltd Limited Liability Company holds 0.02% or 2.52 million shares in its portfolio. South Texas Money Mngmt holds 88,451 shares or 0.25% of its portfolio. Parametric Associate Limited Liability has 0.01% invested in the company for 66,924 shares.
Insider Transactions: Since August 23, 2016, the stock had 0 insider purchases, and 4 selling transactions for $1.32 million net activity. 5,000 shares with value of $319,500 were sold by Epps Michael on Friday, November 18. The insider STEELHAMMER ROBERT H sold 2,900 shares worth $156,600. MUELLER PERRY JR had sold 13,536 shares worth $730,944. Shares for $110,008 were sold by STAFFORD HARRISON II.
The stock increased 0.38% or $0.25 during the last trading session, hitting $66.19. About 420,185 shares traded hands or 0.06% up from the average. Prosperity Bancshares, Inc. (NYSE:PB) has risen 29.27% since April 21, 2016 and is uptrending. It has outperformed by 23.94% the S&P500.
Prosperity Bancshares, Inc. is a financial holding company. The company has a market cap of $4.63 billion. The Firm operates through its bank subsidiary, Prosperity Bank . It has a 16.74 P/E ratio. The Bank provides a range of financial services and products to small and medium-sized businesses and consumers.
According to Zacks Investment Research, “Prosperity Bancshares is a registered bank holding Company that derives substantially all of its revenues and income from the operation of First Prosperity Bank. The Bank is a full service bank that provides a broad line of financial products and services to small and medium sized businesses and consumers through full-service banking locations, three of which are located in the greater Houston metropolitan area.”
Analysts await Prosperity Bancshares, Inc. (NYSE:PB) to report earnings on January, 25. They expect $0.98 earnings per share, down 2.97% or $0.03 from last year’s $1.01 per share. PB’s profit will be $68.55 million for 16.89 P/E if the $0.98 EPS becomes a reality. After $0.99 actual earnings per share reported by Prosperity Bancshares, Inc. for the previous quarter, Wall Street now forecasts -1.01% negative EPS growth.
More important recent Prosperity Bancshares, Inc. (NYSE:PB) news were published by: Marketwatch.com which released: “Prosperity Bancshares downgraded to underpeform from neutral at Wedbush Securities” on June 07, 2011, also Prnewswire.com published article titled: “Prosperity Bancshares, Inc.® Reports Third Quarter 2016 Earnings”, Prnewswire.com published: “Prosperity Bancshares, Inc.® To Acquire Tradition Bancshares, Inc. In Houston ..” on August 06, 2015. More interesting news about Prosperity Bancshares, Inc. (NYSE:PB) was released by: Prnewswire.com and their article: “Prosperity Bancshares, Inc.® Completes Merger With Tradition Bancshares, Inc.” with publication date: January 04, 2016.
Prosperity Bancshares, Inc., incorporated on December 22, 1983, is a financial holding company. The Firm operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial services and products to small and medium-sized businesses and consumers. The Bank operates approximately 240 full service banking locations; 60 in the Houston area, including The Woodlands; 30 in the South Texas area, including Corpus Christi and Victoria; 40 in the Dallas/Fort Worth area; 20 in the East Texas area; 30 in the Central Texas area, including Austin and San Antonio; 30 in the West Texas area, including Lubbock, Midland-Odessa and Abilene; 20 in the Bryan/College Station area; six in the Central Oklahoma area, and eight in the Tulsa, Oklahoma area. The Company’s additional services and products include trust services, brokerage, mortgage lending, credit card and independent sales organization (ISO) sponsorship operations. The Firm also has a trust department, which provides trust services in the Company’s various market areas.
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