Prosperity Bancshares Inc. (NYSE:PB)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $51.89, but opened at $52.44. Prosperity Bancshares shares last traded at $53.38, with a volume of 155,995 shares trading hands.

Several research firms have weighed in on PB. Zacks Investment Research lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Hovde Group upgraded shares of Prosperity Bancshares from a “market perform” rating to an “outperform” rating and set a $54.00 price objective on the stock in a report on Wednesday, June 29th. Evercore ISI upgraded shares of Prosperity Bancshares from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Thursday, June 9th. Compass Point started coverage on shares of Prosperity Bancshares in a report on Tuesday, June 7th. They issued a “neutral” rating and a $50.00 price objective on the stock. Finally, Deutsche Bank AG restated a “hold” rating on shares of Prosperity Bancshares in a report on Sunday, May 22nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.31.

The stock has a market cap of $3.71 billion and a P/E ratio of 13.26. The company’s 50 day moving average price is $51.17 and its 200 day moving average price is $46.69.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. During the same quarter in the previous year, the company earned $1.05 EPS. On average, analysts anticipate that Prosperity Bancshares Inc. will post $4.00 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 17th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, June 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.25%.

In other news, Vice Chairman H E. Timanus, Jr. purchased 6,500 shares of the stock in a transaction dated Monday, June 27th. The stock was acquired at an average cost of $45.09 per share, for a total transaction of $293,085.00. Following the completion of the acquisition, the insider now directly owns 120,273 shares in the company, valued at approximately $5,423,109.57. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Several large investors recently added to or reduced their stakes in PB. Retirement Systems of Alabama boosted its stake in Prosperity Bancshares by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 84,586 shares of the company’s stock valued at $4,048,000 after buying an additional 1,089 shares in the last quarter. California State Teachers Retirement System boosted its stake in Prosperity Bancshares by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 129,792 shares of the company’s stock valued at $6,212,000 after buying an additional 2,066 shares in the last quarter. Sei Investments Co. boosted its stake in Prosperity Bancshares by 1.4% in the fourth quarter. Sei Investments Co. now owns 24,230 shares of the company’s stock valued at $1,159,000 after buying an additional 330 shares in the last quarter. Rhumbline Advisers boosted its stake in Prosperity Bancshares by 0.6% in the fourth quarter. Rhumbline Advisers now owns 178,859 shares of the company’s stock valued at $8,560,000 after buying an additional 1,050 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Prosperity Bancshares by 1.3% in the fourth quarter. California Public Employees Retirement System now owns 174,416 shares of the company’s stock valued at $8,348,000 after buying an additional 2,200 shares in the last quarter.

Prosperity Bancshares, Inc is a financial holding company. The Company 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’s additional products and services include trust services, brokerage, mortgage lending, credit card and independent sales organization (ISO) sponsorship operations.

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