U.S. Capital Wealth Advisors LLC Lowers Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

U.S. Capital Wealth Advisors LLC lessened its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 14.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,048 shares of the bank’s stock after selling 1,000 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Prosperity Bancshares were worth $410,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Planned Solutions Inc. purchased a new stake in shares of Prosperity Bancshares during the fourth quarter worth approximately $37,000. GAMMA Investing LLC purchased a new stake in shares of Prosperity Bancshares during the 4th quarter worth $38,000. Signaturefd LLC grew its stake in shares of Prosperity Bancshares by 171.5% during the fourth quarter. Signaturefd LLC now owns 744 shares of the bank’s stock worth $50,000 after purchasing an additional 470 shares in the last quarter. Spire Wealth Management increased its holdings in Prosperity Bancshares by 17.7% in the third quarter. Spire Wealth Management now owns 1,290 shares of the bank’s stock valued at $70,000 after buying an additional 194 shares during the last quarter. Finally, Covestor Ltd raised its stake in Prosperity Bancshares by 12.3% in the third quarter. Covestor Ltd now owns 2,231 shares of the bank’s stock valued at $122,000 after buying an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Stock Performance

Prosperity Bancshares stock opened at $63.10 on Wednesday. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.26 and a beta of 0.93. Prosperity Bancshares, Inc. has a fifty-two week low of $49.60 and a fifty-two week high of $68.88. The stock has a fifty day moving average of $62.56 and a two-hundred day moving average of $62.34.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $1.18 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 company had revenue of $420.78 million during the quarter, compared to analysts’ expectations of $274.88 million. During the same quarter in the previous year, the business earned $1.37 EPS. On average, analysts forecast that Prosperity Bancshares, Inc. will post 4.99 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, June 14th. Prosperity Bancshares’s payout ratio is currently 51.61%.

Wall Street Analyst Weigh In

PB has been the subject of several analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of Prosperity Bancshares in a research report on Tuesday, April 9th. Truist Financial reiterated a “buy” rating and issued a $75.00 price target on shares of Prosperity Bancshares in a research note on Monday, April 1st. Morgan Stanley upgraded shares of Prosperity Bancshares from an “underweight” rating to an “equal weight” rating and set a $69.00 price objective for the company in a research report on Wednesday, February 7th. Finally, Barclays started coverage on shares of Prosperity Bancshares in a research report on Friday, March 8th. They issued an “equal weight” rating and a $68.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.86.

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.