Prosperity Bancshares, Inc. (NYSE:PB) Stock Holdings Decreased by Sargent Investment Group LLC

Sargent Investment Group LLC lessened its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,360 shares of the bank’s stock after selling 425 shares during the period. Sargent Investment Group LLC’s holdings in Prosperity Bancshares were worth $295,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Planned Solutions Inc. acquired a new stake in Prosperity Bancshares during the fourth quarter valued at approximately $37,000. GAMMA Investing LLC acquired a new stake in Prosperity Bancshares during the fourth quarter valued at approximately $38,000. Signaturefd LLC lifted its stake in Prosperity Bancshares by 171.5% during the fourth quarter. Signaturefd LLC now owns 744 shares of the bank’s stock valued at $50,000 after purchasing an additional 470 shares during the last quarter. Spire Wealth Management lifted its stake in Prosperity Bancshares by 17.7% during the third quarter. Spire Wealth Management now owns 1,290 shares of the bank’s stock valued at $70,000 after purchasing an additional 194 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Prosperity Bancshares by 12.3% during the third quarter. Covestor Ltd now owns 2,231 shares of the bank’s stock valued at $122,000 after purchasing an additional 244 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PB shares. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of Prosperity Bancshares in a report on Tuesday, April 9th. Truist Financial reiterated a “buy” rating and issued a $75.00 price objective on shares of Prosperity Bancshares in a research note on Monday, April 1st. Raymond James upped their price objective on shares of Prosperity Bancshares from $65.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Friday, January 5th. Morgan Stanley upgraded shares of Prosperity Bancshares from an “underweight” rating to an “equal weight” rating and set a $69.00 price objective on the stock in a research note on Wednesday, February 7th. Finally, Barclays initiated coverage on shares of Prosperity Bancshares in a research note on Friday, March 8th. They issued an “equal weight” rating and a $68.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.79.

Prosperity Bancshares Stock Down 0.9 %

Shares of PB opened at $63.55 on Monday. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 1.27 and a beta of 0.93. The stock’s 50-day moving average price is $62.58 and its 200 day moving average price is $61.83. Prosperity Bancshares, Inc. has a 12-month low of $49.60 and a 12-month high of $68.88.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings results 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 net margin of 24.50% and a return on equity of 6.33%. The firm had revenue of $420.78 million for the quarter, compared to analyst estimates of $274.88 million. During the same quarter in the previous year, the firm posted $1.37 EPS. Equities research analysts expect that Prosperity Bancshares, Inc. will post 4.99 EPS for the current year.

Prosperity Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.24 annualized dividend and a yield of 3.52%. Prosperity Bancshares’s dividend payout ratio (DPR) is 51.61%.

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.