Prosperity Bancshares Inc. (NYSE:PB) shares gapped up prior to trading on Friday . The stock had previously closed at $51.26, but opened at $51.56. Prosperity Bancshares shares last traded at $53.32, with a volume of 273,584 shares trading hands.

PB has been the topic of a number of recent research reports. TheStreet upgraded shares of Prosperity Bancshares from a “hold” rating to a “buy” rating in a report on Thursday, April 14th. Zacks Investment Research lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. FIG Partners lowered shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 27th. FBR & Co upped their target price on shares of Prosperity Bancshares from $48.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, April 28th. Finally, Royal Bank Of Canada increased their price objective on shares of Prosperity Bancshares from $48.00 to $52.00 and gave the stock a “sector perform” rating in a report on Thursday, April 28th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Prosperity Bancshares currently has a consensus rating of “Hold” and an average price target of $51.31.

The stock has a market capitalization of $3.69 billion and a P/E ratio of 13.38. The stock’s 50 day moving average is $51.03 and its 200 day moving average is $47.61.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.98 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.01. During the same period in the previous year, the firm earned $1.03 earnings per share. On average, analysts forecast that Prosperity Bancshares Inc. will post $3.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 16th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.26%.

In other Prosperity Bancshares news, Vice Chairman H E. Timanus, Jr. bought 6,500 shares of the stock in a transaction on Monday, June 27th. The shares were bought at an average price of $45.09 per share, with a total value of $293,085.00. Following the purchase, the insider now directly owns 120,273 shares in the company, valued at approximately $5,423,109.57. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Other institutional investors have added to or reduced their stakes in the company. Sei Investments Co. boosted its position 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. New York State Common Retirement Fund boosted its position 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. California Public Employees Retirement System boosted its position 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 during the period. Principal Financial Group Inc. boosted its position in Prosperity Bancshares by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 211,284 shares of the company’s stock valued at $10,112,000 after buying an additional 9,245 shares during the period. Finally, Jennison Associates LLC boosted its position in Prosperity Bancshares by 6.8% in the fourth quarter. Jennison Associates LLC now owns 454,700 shares of the company’s stock valued at $21,762,000 after buying an additional 29,086 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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