Prosperity Bancshares Inc. (NYSE:PB) shares gapped up before the market opened 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 traded.

A number of research analysts have issued reports on the stock. Compass Point assumed coverage on shares of Prosperity Bancshares in a research note on Tuesday, June 7th. They set a “neutral” rating and a $50.00 price target on the stock. Evercore ISI upgraded shares of Prosperity Bancshares from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Thursday, June 9th. FBR & Co upped their price target on shares of Prosperity Bancshares from $48.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, April 28th. Royal Bank Of Canada upped their price target on shares of Prosperity Bancshares from $48.00 to $52.00 and gave the company a “sector perform” rating in a research note on Thursday, April 28th. Finally, FIG Partners lowered shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 27th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Prosperity Bancshares has a consensus rating of “Hold” and an average price target of $51.31.

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

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by $0.01. During the same period last year, the firm posted $1.03 EPS. Equities research analysts expect that Prosperity Bancshares Inc. will post $3.94 EPS for the current year.

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

In related news, Vice Chairman H E. Timanus, Jr. acquired 6,500 shares of Prosperity Bancshares stock in a transaction dated Monday, June 27th. The stock was acquired at an average price of $45.09 per share, for a total transaction of $293,085.00. Following the transaction, the insider now owns 120,273 shares of the company’s stock, valued at $5,423,109.57. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Other hedge funds have added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Prosperity Bancshares by 14.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,178,775 shares of the company’s stock valued at $56,420,000 after buying an additional 153,057 shares during the period. Jennison Associates LLC increased its stake 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. Principal Financial Group Inc. increased its stake 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. California Public Employees Retirement System increased 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 during the period. Finally, New York State Common Retirement Fund increased 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.

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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