Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by 1900 Wealth Management LLC

1900 Wealth Management LLC decreased its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 57.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,576 shares of the bank’s stock after selling 9,000 shares during the period. 1900 Wealth Management LLC’s holdings in Prosperity Bancshares were worth $445,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Wedge Capital Management L L P NC increased its holdings in shares of Prosperity Bancshares by 0.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 189,130 shares of the bank’s stock valued at $12,810,000 after purchasing an additional 1,010 shares in the last quarter. North Star Asset Management Inc. increased its holdings in Prosperity Bancshares by 1.3% during the 4th quarter. North Star Asset Management Inc. now owns 212,982 shares of the bank’s stock valued at $14,425,000 after acquiring an additional 2,702 shares in the last quarter. Signaturefd LLC increased its holdings in Prosperity Bancshares by 171.5% during the 4th quarter. Signaturefd LLC now owns 744 shares of the bank’s stock valued at $50,000 after acquiring an additional 470 shares in the last quarter. Federated Hermes Inc. increased its holdings in Prosperity Bancshares by 266.8% during the 4th quarter. Federated Hermes Inc. now owns 47,136 shares of the bank’s stock valued at $3,193,000 after acquiring an additional 34,285 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Prosperity Bancshares by 15.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,909 shares of the bank’s stock valued at $1,145,000 after acquiring an additional 2,254 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Stock Performance

Shares of PB stock traded up $0.81 on Tuesday, hitting $62.71. The stock had a trading volume of 98,520 shares, compared to its average volume of 556,542. Prosperity Bancshares, Inc. has a 52-week low of $49.60 and a 52-week high of $68.88. The stock’s 50 day moving average is $62.54 and its 200-day moving average is $61.53. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 1.23 and a beta of 0.93.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Prosperity Bancshares had a net margin of 26.24% and a return on equity of 6.62%. The company had revenue of $413.00 million during the quarter, compared to analyst estimates of $279.34 million. During the same period in the prior year, the firm earned $1.51 earnings per share. Equities analysts expect that Prosperity Bancshares, Inc. will post 4.96 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.57%. The ex-dividend date is Friday, June 14th. Prosperity Bancshares’s payout ratio is presently 49.45%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of Prosperity Bancshares in a report on Tuesday, April 9th. Barclays initiated coverage on shares of Prosperity Bancshares in a report on Friday, March 8th. They set an “equal weight” rating and a $68.00 price target for the company. Truist Financial reissued a “buy” rating and issued a $75.00 price objective on shares of Prosperity Bancshares in a research report on Monday, April 1st. Raymond James boosted their price objective on shares of Prosperity Bancshares from $65.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. Finally, Morgan Stanley raised shares of Prosperity Bancshares from an “underweight” rating to an “equal weight” rating and set a $69.00 price objective for the company in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Prosperity Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $68.79.

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.