Cwm LLC Purchases 1,641 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Cwm LLC boosted its position in Prosperity Bancshares, Inc. (NYSE:PB) by 33.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,496 shares of the bank’s stock after purchasing an additional 1,641 shares during the quarter. Cwm LLC’s holdings in Prosperity Bancshares were worth $427,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Prosperity Bancshares in the fourth quarter worth $64,749,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Prosperity Bancshares in the fourth quarter worth $46,306,000. Schroder Investment Management Group purchased a new stake in shares of Prosperity Bancshares in the fourth quarter worth $32,842,000. Wellington Management Group LLP grew its stake in shares of Prosperity Bancshares by 11.5% in the third quarter. Wellington Management Group LLP now owns 2,213,472 shares of the bank’s stock worth $120,811,000 after acquiring an additional 227,725 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of Prosperity Bancshares by 359.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 247,936 shares of the bank’s stock worth $16,793,000 after acquiring an additional 193,953 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Stock Performance

Shares of NYSE:PB opened at $58.79 on Friday. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.26 and a beta of 0.90. The stock’s 50-day simple moving average is $61.54 and its two-hundred day simple moving average is $63.22. Prosperity Bancshares, Inc. has a 52-week low of $49.60 and a 52-week high of $68.88.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, April 24th. The bank reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.03. The business had revenue of $420.78 million for the quarter, compared to analysts’ expectations of $274.88 million. Prosperity Bancshares had a return on equity of 6.33% and a net margin of 24.50%. During the same period last year, the firm posted $1.37 earnings per share. As a group, equities analysts forecast that Prosperity Bancshares, Inc. will post 5.01 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, June 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 51.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays assumed coverage on Prosperity Bancshares in a research note on Friday, March 8th. They issued an “equal weight” rating and a $68.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and set a $75.00 price objective on shares of Prosperity Bancshares in a research report on Monday, April 1st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of Prosperity Bancshares in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $68.86.

About Prosperity Bancshares

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.