Prosperity Bancshares Inc. (NYSE: PB) stock jumped 1.70% on Thursday to $56.89 against a previous-day closing price of $55.94. With 0.69 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.74 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $57.07 whereas the lowest price it dropped to was $55.91. The 52-week range on PB shows that it touched its highest point at $78.76 and its lowest point at $54.45 during that stretch. It currently has a 1-year price target of $67.43. With its current market cap of 5.27 billion, PB has annualized dividend of $2.20 while the current yield stands at 3.87%. 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 up-trending over the past week, with a rise of 2.49%, but this was up by 0.11% over a month. Three-month performance dropped to -3.58% while six-month performance fell -11.66%. The stock lost -18.99% in the past year, while it has lost -21.73% so far this year. A look at the trailing 12-month EPS for PB yields 5.30 with Next year EPS estimates of 5.29. For the next quarter, that number is 1.07. This implies an EPS growth rate of 2.20% for this year and 15.19% 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, 92.93 million PB shares are outstanding with a float of 89.53 million shares on hand for trading. On Aug 14, 2023, short shares totaled 3.83 million, which was 4.08% higher than short shares on Jul 13, 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 81.24% of PB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.26% of PB, in contrast to 49.94% held by mutual funds. Shares owned by individuals account for 33.12%. As the largest shareholder in PB with 10.20% of the stake, The Vanguard Group, Inc. holds 9,612,896 shares worth 9,612,896. A second-largest stockholder of PB, SSgA Funds Management, Inc., holds 8,888,314 shares, controlling over 9.43% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PB, holding 7,672,082 shares or 8.14% stake. With a 4.06% stake in PB, the Victory Sycamore Established Valu is the largest stakeholder. A total of 3,832,000 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.21% of PB stock, is the second-largest Mutual Fund holder. It holds 3,027,537 shares valued at 191.7 million. Vanguard Total Stock Market ETF holds 3.02% of the stake in PB, owning 2,843,771 shares worth 180.07 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 $74.00 and a low target of $57.00, the average target price over the next 12 months is $67.57. Based on these targets, PB could surge 30.08% to reach the target high and rise by 0.19% to reach the target low. Reaching the average price target will result in a growth of 18.77% 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 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 70,069 while 2,800 shares were sold.
