Ameritas Investment Partners Inc. Sells 271 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Ameritas Investment Partners Inc. trimmed its position in Prosperity Bancshares, Inc. (NYSE:PB) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,888 shares of the bank’s stock after selling 271 shares during the period. Ameritas Investment Partners Inc.’s holdings in Prosperity Bancshares were worth $2,072,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Public Employees Retirement Association of Colorado increased its stake in Prosperity Bancshares by 359.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 247,936 shares of the bank’s stock valued at $16,793,000 after buying an additional 193,953 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Prosperity Bancshares by 11.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 884,734 shares of the bank’s stock valued at $59,923,000 after acquiring an additional 89,617 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in Prosperity Bancshares during the first quarter worth about $2,343,000. Amica Mutual Insurance Co. boosted its position in Prosperity Bancshares by 41.9% during the second quarter. Amica Mutual Insurance Co. now owns 157,770 shares of the bank’s stock valued at $9,646,000 after purchasing an additional 46,593 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Prosperity Bancshares by 14.8% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 784,910 shares of the bank’s stock valued at $51,631,000 after purchasing an additional 101,230 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Prosperity Bancshares Price Performance

Shares of NYSE PB opened at $72.60 on Friday. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 1.50 and a beta of 0.90. The stock’s fifty day moving average price is $71.31 and its two-hundred day moving average price is $65.12. Prosperity Bancshares, Inc. has a one year low of $49.60 and a one year high of $74.87.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $458.95 million for the quarter, compared to analyst estimates of $290.06 million. Prosperity Bancshares had a net margin of 25.10% and a return on equity of 6.32%. During the same period last year, the firm earned $1.21 earnings per share. On average, equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.07 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, September 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 51.61%.

Analysts Set New Price Targets

PB has been the subject of several recent analyst reports. Stephens raised Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 26th. Morgan Stanley raised shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $75.00 to $86.00 in a research report on Monday, August 5th. Piper Sandler upped their target price on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Truist Financial cut Prosperity Bancshares from a “buy” rating to a “hold” rating and reduced their price target for the stock from $81.00 to $79.00 in a report on Friday. Finally, DA Davidson raised their price objective on Prosperity Bancshares from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Prosperity Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $75.88.

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.