118,958 Shares in Prosperity Bancshares, Inc. $PB Purchased by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. acquired a new position in Prosperity Bancshares, Inc. (NYSE:PB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 118,958 shares of the bank’s stock, valued at approximately $7,893,000. Prosperity Bancshares makes up about 1.5% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 25th largest holding. Stieven Capital Advisors L.P. owned about 0.13% of Prosperity Bancshares as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Management Group Inc. boosted its stake in shares of Prosperity Bancshares by 2.3% in the 3rd quarter. Private Management Group Inc. now owns 461,853 shares of the bank’s stock worth $30,644,000 after buying an additional 10,429 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Prosperity Bancshares during the third quarter valued at approximately $2,337,000. Boston Partners lifted its holdings in Prosperity Bancshares by 26.6% during the third quarter. Boston Partners now owns 701,995 shares of the bank’s stock worth $46,576,000 after acquiring an additional 147,493 shares during the period. Entropy Technologies LP bought a new stake in Prosperity Bancshares during the third quarter worth $4,535,000. Finally, Invesco Ltd. boosted its position in Prosperity Bancshares by 2.4% in the third quarter. Invesco Ltd. now owns 379,531 shares of the bank’s stock worth $25,182,000 after purchasing an additional 9,061 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 600 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $71.99, for a total value of $43,194.00. Following the sale, the director owned 42,700 shares in the company, valued at approximately $3,073,973. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 13,200 shares of company stock valued at $936,078 over the last quarter. Corporate insiders own 4.20% of the company’s stock.

Prosperity Bancshares Stock Performance

Shares of NYSE PB opened at $64.28 on Friday. The stock has a market cap of $6.53 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.92 and a beta of 0.66. Prosperity Bancshares, Inc. has a fifty-two week low of $61.06 and a fifty-two week high of $77.20. The stock has a fifty day moving average of $71.33 and a 200-day moving average of $68.84.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings results on Wednesday, January 28th. The bank reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. Prosperity Bancshares had a net margin of 31.22% and a return on equity of 7.11%. The firm had revenue of $317.73 million for the quarter, compared to the consensus estimate of $319.30 million. During the same period in the prior year, the firm posted $1.37 earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, March 13th. Prosperity Bancshares’s payout ratio is 41.88%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PB. DA Davidson reiterated a “neutral” rating and set a $76.00 target price on shares of Prosperity Bancshares in a research note on Thursday, January 29th. Hovde Group increased their price target on shares of Prosperity Bancshares from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Janney Montgomery Scott downgraded shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating in a report on Tuesday, February 3rd. Piper Sandler lowered shares of Prosperity Bancshares from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $74.00 in a research report on Thursday, January 29th. Finally, Cantor Fitzgerald boosted their target price on shares of Prosperity Bancshares from $81.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $78.92.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.