Helen Stephens Group LLC Takes Position in Prosperity Bancshares, Inc. (NYSE:PB)

Helen Stephens Group LLC purchased a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 31,000 shares of the bank’s stock, valued at approximately $2,234,000. Prosperity Bancshares accounts for about 0.7% of Helen Stephens Group LLC’s investment portfolio, making the stock its 23rd biggest position.

A number of other hedge funds have also modified their holdings of PB. Dimensional Fund Advisors LP grew its holdings in shares of Prosperity Bancshares by 14.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,287,615 shares of the bank’s stock worth $262,141,000 after acquiring an additional 532,241 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Prosperity Bancshares by 3.0% in the second quarter. Victory Capital Management Inc. now owns 6,359,165 shares of the bank’s stock worth $388,799,000 after buying an additional 184,453 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Prosperity Bancshares by 666,140.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 146,573 shares of the bank’s stock worth $9,642,000 after buying an additional 146,551 shares during the period. Amarillo National Bank acquired a new stake in shares of Prosperity Bancshares in the second quarter worth $8,520,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Prosperity Bancshares by 16.0% in the second quarter. Thrivent Financial for Lutherans now owns 811,772 shares of the bank’s stock worth $49,632,000 after buying an additional 112,101 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on PB shares. StockNews.com cut Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Truist Financial cut Prosperity Bancshares from a “buy” rating to a “hold” rating and reduced their price objective for the company from $81.00 to $79.00 in a research report on Friday, September 20th. DA Davidson lifted 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. Morgan Stanley raised 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. Finally, Hovde Group lifted their price objective on Prosperity Bancshares from $80.50 to $82.50 and gave the company an “outperform” rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.58.

Prosperity Bancshares Trading Down 0.3 %

PB stock opened at $70.33 on Wednesday. Prosperity Bancshares, Inc. has a 1-year low of $49.60 and a 1-year high of $74.87. The firm has a market cap of $6.70 billion, a P/E ratio of 16.21, a P/E/G ratio of 1.45 and a beta of 0.89. The business’s 50 day moving average is $71.56 and its 200-day moving average is $65.87.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.02. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. The company had revenue of $458.95 million for the quarter, compared to analyst estimates of $290.06 million. During the same period in the prior year, the company posted $1.21 EPS. Sell-side analysts forecast that Prosperity Bancshares, Inc. will post 5.04 EPS for the current year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.56 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.24 annualized dividend and a dividend yield of 3.18%. Prosperity Bancshares’s dividend payout ratio is currently 51.61%.

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.