Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Prosperity Bancshares (PB) Stock Price
Media headlines about Prosperity Bancshares (NYSE:PB) have been trending somewhat positive recently, Accern Sentiment reports. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Prosperity Bancshares earned a media sentiment score of 0.09 on Accern’s scale. Accern also gave media coverage about the bank an impact score of 47.8426643460497 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Prosperity Bancshares (NYSE:PB) traded down $1.39 during midday trading on Wednesday, reaching $76.42. 445,337 shares of the company’s stock traded hands, compared to its average volume of 406,365. Prosperity Bancshares has a 1 year low of $55.84 and a 1 year high of $79.20. The company has a market capitalization of $5,495.75, a price-to-earnings ratio of 19.80, a P/E/G ratio of 1.65 and a beta of 1.32.
Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, January 24th. The bank reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.01). The business had revenue of $185.27 million during the quarter, compared to analyst estimates of $185.43 million. Prosperity Bancshares had a net margin of 34.28% and a return on equity of 7.28%. During the same quarter last year, the company posted $0.99 earnings per share. analysts forecast that Prosperity Bancshares will post 4.78 earnings per share for the current fiscal year.
Prosperity Bancshares declared that its board has approved a share repurchase program on Friday, January 19th that authorizes the company to repurchase 3,470,000 shares. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
PB has been the subject of a number of research reports. ValuEngine upgraded shares of Prosperity Bancshares from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. DA Davidson upped their price target on shares of Prosperity Bancshares to $80.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Zacks Investment Research downgraded shares of Prosperity Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. SunTrust Banks restated a “buy” rating and set a $85.00 price target on shares of Prosperity Bancshares in a report on Thursday, January 25th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $73.00 target price on shares of Prosperity Bancshares in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Prosperity Bancshares currently has an average rating of “Hold” and an average target price of $74.45.
In other news, insider Michael Epps sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $75.15, for a total transaction of $300,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Hollaway sold 5,000 shares of Prosperity Bancshares 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 disclosure for this sale can be found here. Insiders sold 10,800 shares of company stock valued at $818,280 in the last three months. Company insiders own 4.93% of the company’s stock.
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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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