Prosperity Bancshares, Inc. (NYSE:PB) Stake Lifted by Blue Trust Inc.

Blue Trust Inc. increased its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 181.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 859 shares of the bank’s stock after purchasing an additional 554 shares during the period. Blue Trust Inc.’s holdings in Prosperity Bancshares were worth $62,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hunter Perkins Capital Management LLC raised its position in Prosperity Bancshares by 2.8% in the third quarter. Hunter Perkins Capital Management LLC now owns 159,220 shares of the bank’s stock worth $11,530,000 after acquiring an additional 4,265 shares in the last quarter. NBC Securities Inc. lifted its stake in Prosperity Bancshares by 36.1% during the third quarter. NBC Securities Inc. now owns 6,004 shares of the bank’s stock valued at $432,000 after purchasing an additional 1,594 shares during the last quarter. Creative Planning boosted its holdings in Prosperity Bancshares by 17.2% during the third quarter. Creative Planning now owns 3,909 shares of the bank’s stock worth $282,000 after buying an additional 574 shares in the last quarter. CWM LLC grew its position in Prosperity Bancshares by 29.3% in the third quarter. CWM LLC now owns 7,803 shares of the bank’s stock worth $562,000 after buying an additional 1,766 shares during the last quarter. Finally, Helen Stephens Group LLC bought a new position in shares of Prosperity Bancshares in the third quarter valued at $2,234,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PB. Truist Financial cut Prosperity Bancshares from a “buy” rating to a “hold” rating and decreased their target price for the stock from $81.00 to $79.00 in a report on Friday, September 20th. Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. Piper Sandler upped their price target on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. StockNews.com cut shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Finally, Raymond James cut Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 target price for the company. in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.96.

Prosperity Bancshares Price Performance

Prosperity Bancshares stock opened at $73.20 on Friday. Prosperity Bancshares, Inc. has a one year low of $53.67 and a one year high of $75.51. The company’s fifty day moving average price is $72.36 and its two-hundred day moving average price is $66.93. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.08 and a beta of 0.89.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. The business had revenue of $459.00 million for the quarter, compared to the consensus estimate of $299.83 million. During the same period last year, the business earned $1.20 EPS. As a group, sell-side analysts anticipate that Prosperity Bancshares, Inc. will post 5.05 earnings per share for the current year.

Prosperity Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.58 per share. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.32 dividend on an annualized basis and a yield of 3.17%. Prosperity Bancshares’s payout ratio is currently 49.26%.

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.