Mather Group LLC. Invests $50,000 in Prosperity Bancshares, Inc. (NYSE:PB)

Mather Group LLC. purchased a new stake in Prosperity Bancshares, Inc. (NYSE:PB) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 742 shares of the bank’s stock, valued at approximately $50,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Prosperity Bancshares by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,693,076 shares of the bank’s stock worth $656,512,000 after purchasing an additional 53,844 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Prosperity Bancshares by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 5,928,697 shares of the bank’s stock valued at $401,551,000 after buying an additional 136,764 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Prosperity Bancshares by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,441,996 shares of the bank’s stock valued at $233,130,000 after acquiring an additional 187,472 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Prosperity Bancshares by 0.3% in the fourth quarter. Brown Advisory Inc. now owns 2,531,970 shares of the bank’s stock valued at $171,490,000 after acquiring an additional 8,373 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in 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 period. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PB has been the topic of several recent analyst reports. Barclays began coverage on Prosperity Bancshares in a research note on Friday, March 8th. They issued an “equal weight” rating and a $68.00 price target on the stock. Truist Financial reiterated a “buy” rating and set a $75.00 price target on shares of Prosperity Bancshares in a research report on Monday, April 1st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of Prosperity Bancshares in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.86.

Prosperity Bancshares Trading Down 0.4 %

NYSE:PB opened at $58.79 on Monday. Prosperity Bancshares, Inc. has a 12-month low of $49.60 and a 12-month high of $68.88. The firm has a market cap of $5.64 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.26 and a beta of 0.90. The stock has a fifty day moving average price of $61.54 and a 200 day moving average price of $63.23.

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

Prosperity Bancshares Announces Dividend

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

Prosperity Bancshares 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.