Prosperity Bancshares (NYSE:PB) Stock Rating Upgraded by Wedbush

Prosperity Bancshares (NYSE:PB) was upgraded by equities researchers at Wedbush from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage currently has a $90.00 price target on the bank’s stock, up from their prior price target of $75.00. Wedbush’s price objective would suggest a potential upside of 26.78% from the stock’s current price. Wedbush also issued estimates for Prosperity Bancshares’ FY2026 earnings at $6.35 EPS.

Several other analysts have also recently commented on PB. Morgan Stanley upgraded shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $75.00 to $86.00 in a research report on Monday, August 5th. Hovde Group upped their target price on shares of Prosperity Bancshares from $80.50 to $82.50 and gave the company an “outperform” rating in a research report on Monday, August 26th. Stephens upgraded shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 26th. Raymond James cut shares of Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price objective for the company. in a research report on Tuesday, September 17th. Finally, Compass Point upped their price objective on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Prosperity Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $77.04.

Prosperity Bancshares Price Performance

PB stock opened at $70.99 on Tuesday. The company has a 50 day moving average price of $71.55 and a 200 day moving average price of $65.29. Prosperity Bancshares has a fifty-two week low of $49.60 and a fifty-two week high of $74.87. The stock has a market capitalization of $6.76 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.49 and a beta of 0.90.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, July 24th. The bank reported $1.22 EPS for the quarter, beating the consensus estimate of $1.20 by $0.02. The company had revenue of $458.95 million during the quarter, compared to analysts’ expectations of $290.06 million. Prosperity Bancshares had a net margin of 25.10% and a return on equity of 6.32%. During the same quarter in the previous year, the company posted $1.21 EPS. As a group, equities analysts expect that Prosperity Bancshares will post 5.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prosperity Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in Prosperity Bancshares by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock worth $29,000 after purchasing an additional 177 shares during the period. Quarry LP boosted its stake in shares of Prosperity Bancshares by 533.3% during the 2nd quarter. Quarry LP now owns 494 shares of the bank’s stock worth $30,000 after buying an additional 416 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Prosperity Bancshares by 3,147.1% during the 2nd quarter. Quest Partners LLC now owns 552 shares of the bank’s stock worth $34,000 after buying an additional 535 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Prosperity Bancshares by 835.9% during the 4th quarter. Parallel Advisors LLC now owns 730 shares of the bank’s stock worth $49,000 after buying an additional 652 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Prosperity Bancshares during the 1st quarter worth about $50,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; term loans and lines of credit; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.