Headlines about Prosperity Bancshares (NYSE:PB) have been trending somewhat positive this week, according to Accern. The research firm scores the sentiment of media coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Prosperity Bancshares earned a news sentiment score of 0.24 on Accern’s scale. Accern also gave media headlines about the bank an impact score of 45.7290149978025 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media headlines that may have effected Accern’s analysis:
A number of equities research analysts recently issued reports on the stock. FIG Partners restated a “market-perform” rating on shares of Prosperity Bancshares in a report on Monday, April 16th. Zacks Investment Research upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 11th. ValuEngine upgraded shares of Prosperity Bancshares from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. DA Davidson boosted their target price on shares of Prosperity Bancshares to $80.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Finally, SunTrust Banks reiterated a “buy” rating and set a $85.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, January 25th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $74.45.
PB traded up $0.94 during trading on Friday, hitting $74.51. 321,545 shares of the company’s stock were exchanged, compared to its average volume of 341,193. Prosperity Bancshares has a 1 year low of $55.84 and a 1 year high of $79.20. The company has a market cap of $5,203.18, a P/E ratio of 18.91, a P/E/G ratio of 1.56 and a beta of 1.32.
Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $0.99 earnings per share (EPS) for the quarter, missing the 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 analysts’ expectations of $185.43 million. During the same quarter in the prior year, the firm earned $0.99 earnings per share. equities research analysts anticipate that Prosperity Bancshares will post 4.77 EPS for the current year.
Prosperity Bancshares declared that its board has approved a share repurchase program on Friday, January 19th that permits the company to buyback 3,470,000 outstanding shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Friday, March 16th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, March 15th. This represents a $1.44 annualized dividend and a yield of 1.93%. Prosperity Bancshares’s dividend payout ratio is currently 36.55%.
In other news, CFO David Hollaway sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $76.32, for a total transaction of $381,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Epps sold 4,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $75.15, for a total transaction of $300,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,800 shares of company stock worth $818,280. Corporate insiders own 5.05% of the company’s stock.
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About Prosperity Bancshares
Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, 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; and consumer durables and home equity loans.
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