After finishing at $62.44 in the prior trading day, Prosperity Bancshares Inc. (NYSE: PB) closed at $60.58, down -2.98%. In other words, the price has decreased by -$1.30 from its previous closing price. On the day, 523941 shares were traded. PB stock price reached its highest trading level at $61.71 during the session, while it also had its lowest trading level at $60.17.
Ratios:
Our goal is to gain a better understanding of PB by taking a closer look at its different ratios. In the meantime, Its Debt-to-Equity ratio is 0.58 whereas as Long-Term Debt/Eq ratio is at 0.00.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Barclays on March 08, 2024, initiated with a Equal Weight rating and assigned the stock a target price of $68.
On February 07, 2024, Morgan Stanley Upgraded its rating to Equal-Weight which previously was Underweight but kept the price unchanged to $69.
On December 01, 2023, Citigroup started tracking the stock assigning a Buy rating and target price of $68.Citigroup initiated its Buy rating on December 01, 2023, with a $68 target price.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Dec 11 ’23 when LORD L. JACK sold 2,100 shares for $62.94 per share. The transaction valued at 132,174 led to the insider holds 31,025 shares of the business.
LORD L. JACK bought 5,000 shares of PB for $310,200 on May 01 ’23. The Director now owns 33,125 shares after completing the transaction at $62.04 per share.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, PB now has a Market Capitalization of 5.67B. As of this moment, Prosperity’s Price-to-Earnings (P/E) ratio for their current fiscal year is 13.41, and their Forward P/E ratio for the next fiscal year is 10.33. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.47. For the stock, the TTM Price-to-Sale (P/S) ratio is 3.55 while its Price-to-Book (P/B) ratio in mrq is 0.80.
Stock Price History:
Over the past 52 weeks, PB has reached a high of $68.88, while it has fallen to a 52-week low of $49.60. The 50-Day Moving Average of the stock is 63.88, while the 200-Day Moving Average is calculated to be 59.75.
Shares Statistics:
The stock has traded on average 613.46K shares per day over the past 3-months and 457.29k shares per day over the last 10 days, according to various share statistics. A total of 93.72M shares are outstanding, with a floating share count of 89.18M. Insiders hold about 4.65% of the company’s shares, while institutions hold 81.44% stake in the company. Shares short for PB as of Feb 29, 2024 were 2.34M with a Short Ratio of 3.82, compared to 2.53M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 2.51% and a Short% of Float of 2.92%.
Dividends & Splits
In the trailing 12 months, PB’s forward annual dividend rate was 2.21, compared to 2.77 this year. Against a Trailing Annual Dividend Yield of 3.57%, it implies a Forward Annual Dividend Yield of 3.70%. The stock’s 5-year Average Dividend Yield is 2.92. The current Payout Ratio is 48.96% for PB, which recently paid a dividend on Apr 01, 2024 with an ex-dividend date of Mar 14, 2024. Stock splits for the company last occurred on Jun 03, 2002 when the company split stock in a 2:1 ratio.
Earnings Estimates
Its stock is currently analyzed by 16 different market analysts. On average, analysts expect EPS of $1.16 for the current quarter, with a high estimate of $1.29 and a low estimate of $1.08, while EPS last year was $1.37. The consensus estimate for the next quarter is $1.2, with high estimates of $1.3 and low estimates of $1.03.
Analysts are recommending an EPS of between $5.32 and $4.68 for the fiscal current year, implying an average EPS of $5.02. EPS for the following year is $5.87, with 15 analysts recommending between $6.3 and $5.65.
Revenue Estimates
11 analysts predict $277.7M in revenue for the current quarter. It ranges from a high estimate of $282.25M to a low estimate of $273.43M. As of the current estimate, Prosperity Bancshares Inc.’s year-ago sales were $281.73M, an estimated decrease of -1.40% from the year-ago figure. For the next quarter, 11 analysts are estimating revenue of $287.7M, an increase of 1.20% over than the figure of -$1.40% in the same quarter last year. There is a high estimate of $295.9M for the next quarter, whereas the lowest estimate is $248.6M.
A total of 12 analysts have provided revenue estimates for PB’s current fiscal year. The highest revenue estimate was $1.2B, while the lowest revenue estimate was $1.01B, resulting in an average revenue estimate of $1.17B. In the same quarter a year ago, actual revenue was $1.11B, up 5.00% from the average estimate. Based on 12 analysts’ estimates, the company’s revenue will be $1.28B in the next fiscal year. The high estimate is $1.35B and the low estimate is $1.08B. The average revenue growth estimate for next year is up 9.80% from the average revenue estimate for this year.
