Prosperity Bancshares Inc. (NYSE:PB) shares 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 traded.

A number of research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research 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 for the company in a research 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 for the company in a research report on Thursday, June 9th. Compass Point assumed coverage on shares of Prosperity Bancshares in a research report on Tuesday, June 7th. They issued a “neutral” rating and a $50.00 price objective for the company. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of Prosperity Bancshares in a research report on Sunday, May 22nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Prosperity Bancshares presently has a consensus rating of “Hold” and an average target price of $51.31.

The firm’s 50 day moving average is $51.18 and its 200-day moving average is $46.73. The stock has a market capitalization of $3.73 billion and a price-to-earnings ratio of 13.34.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, April 27th. The company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. During the same quarter last year, the firm posted $1.05 earnings per share. Equities analysts forecast that Prosperity Bancshares Inc. will post $4.00 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 17th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Wednesday, June 15th.

In other news, Vice Chairman H E. Timanus, Jr. bought 6,500 shares of Prosperity Bancshares stock in a transaction dated Monday, June 27th. The stock was bought at an average price of $45.09 per share, for a total transaction of $293,085.00. Following the purchase, the insider now owns 120,273 shares of the company’s stock, valued at $5,423,109.57. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Other hedge funds have recently added to or reduced their stakes in the company. 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 during the period. ProShare Advisors LLC boosted its stake in Prosperity Bancshares by 21.9% in the fourth quarter. ProShare Advisors LLC now owns 32,796 shares of the company’s stock valued at $1,570,000 after buying an additional 5,882 shares during the period. Jacobson & Schmitt Advisors LLC boosted its stake in Prosperity Bancshares by 5.4% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 66,739 shares of the company’s stock valued at $3,194,000 after buying an additional 3,434 shares during the period. New York State Common Retirement Fund boosted its stake in Prosperity Bancshares by 3.9% in the fourth quarter. New York State Common Retirement Fund now owns 68,800 shares of the company’s stock valued at $3,293,000 after buying an additional 2,600 shares during the period. Finally, 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 during the period.

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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