This trade activity should not be overlooked: Prosperity Bancshares Inc. (PB)

Prosperity Bancshares Inc. (NYSE: PB) stock fell -2.76% on Wednesday to $58.44 against a previous-day closing price of $60.10. With 0.6 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.87 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $60.11 whereas the lowest price it dropped to was $58.19. The 52-week range on PB shows that it touched its highest point at $78.76 and its lowest point at $56.72 during that stretch. It currently has a 1-year price target of $69.00. With its current market cap of 5.61 billion, PB has annualized dividend of $2.20 while the current yield stands at 3.76%. Beta for the stock currently stands at 0.97.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PB was down-trending over the past week, with a drop of -5.73%, but this was down by -0.95% over a month. Three-month performance dropped to -21.12% while six-month performance fell -21.34%. The stock lost -17.25% in the past year, while it has lost -19.59% so far this year. A look at the trailing 12-month EPS for PB yields 5.77 with Next year EPS estimates of 5.78. For the next quarter, that number is 1.28. This implies an EPS growth rate of 2.20% for this year and 7.28% for next year. EPS is expected to grow by 9.12% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 7.80%.

Float and Shares Shorts:

At present, 91.21 million PB shares are outstanding with a float of 87.37 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.79 million, which was 3.08% higher than short shares on Mar 30, 2023. In addition to Mr. David E. Zalman as the firm’s Sr. Chairman & CEO, Mr. H. E. Timanus Jr. serves as its Chairman.

Institutional Ownership:

Through their ownership of 87.11% of PB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.48% of PB, in contrast to 59.52% held by mutual funds. Shares owned by individuals account for 23.71%. As the largest shareholder in PB with 10.30% of the stake, The Vanguard Group, Inc. holds 9,408,571 shares worth 9,408,571. A second-largest stockholder of PB, SSgA Funds Management, Inc., holds 7,970,933 shares, controlling over 8.73% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PB, holding 7,867,528 shares or 8.62% stake. With a 4.43% stake in PB, the SPDR S&P Dividend ETF is the largest stakeholder. A total of 4,043,107 shares are owned by the mutual fund manager. The Victory Sycamore Established Valu, which owns about 3.88% of PB stock, is the second-largest Mutual Fund holder. It holds 3,545,000 shares valued at 221.99 million. iShares Core S&P Mid Cap ETF holds 3.12% of the stake in PB, owning 2,849,475 shares worth 178.43 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PB analysts setting a high price target of $76.00 and a low target of $60.00, the average target price over the next 12 months is $69.00. Based on these targets, PB could surge 30.05% to reach the target high and rise by 2.67% to reach the target low. Reaching the average price target will result in a growth of 18.07% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded PB stock several times over the past three months with 12 Buys and 1 Sells. In these transactions, 20,000 shares were bought while 1,000 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 74,615 while 6,300 shares were sold.

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