Tudor Investment Corp ET AL Purchases New Position in Prosperity Bancshares, Inc. $PB

Tudor Investment Corp ET AL purchased a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 73,582 shares of the bank’s stock, valued at approximately $4,882,000. Tudor Investment Corp ET AL owned about 0.08% of Prosperity Bancshares at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Prosperity Bancshares by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,116,892 shares of the bank’s stock worth $671,256,000 after purchasing an additional 465,227 shares in the last quarter. State Street Corp increased its holdings in Prosperity Bancshares by 6.6% in the 3rd quarter. State Street Corp now owns 5,580,039 shares of the bank’s stock worth $373,231,000 after purchasing an additional 343,062 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Prosperity Bancshares by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,784,022 shares of the bank’s stock worth $317,416,000 after purchasing an additional 28,994 shares in the last quarter. AQR Capital Management LLC increased its holdings in Prosperity Bancshares by 43.6% in the 3rd quarter. AQR Capital Management LLC now owns 3,421,408 shares of the bank’s stock worth $226,531,000 after purchasing an additional 1,038,246 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Prosperity Bancshares by 48.7% in the 3rd quarter. American Century Companies Inc. now owns 2,122,031 shares of the bank’s stock worth $140,797,000 after purchasing an additional 695,114 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PB shares. Raymond James Financial lowered shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 7th. Piper Sandler lowered shares of Prosperity Bancshares from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $74.00 in a report on Thursday, January 29th. Citigroup reissued a “neutral” rating on shares of Prosperity Bancshares in a report on Monday, February 2nd. Weiss Ratings raised shares of Prosperity Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 2nd. Finally, Cantor Fitzgerald boosted their target price on shares of Prosperity Bancshares from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Prosperity Bancshares has an average rating of “Hold” and an average target price of $78.31.

Insider Activity

In other Prosperity Bancshares news, Director Ned S. Holmes sold 600 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $71.65, for a total transaction of $42,990.00. Following the transaction, the director directly owned 42,300 shares in the company, valued at approximately $3,030,795. This represents a 1.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 12,100 shares of company stock worth $843,698. 3.96% of the stock is currently owned by corporate insiders.

Prosperity Bancshares Stock Performance

Shares of NYSE PB opened at $68.52 on Thursday. The company has a market capitalization of $6.95 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. Prosperity Bancshares, Inc. has a 52-week low of $61.06 and a 52-week high of $77.20. The company’s 50 day moving average price is $69.24 and its 200-day moving average price is $68.63.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, January 28th. The bank reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. The firm had revenue of $317.73 million for the quarter, compared to the consensus estimate of $319.30 million. Prosperity Bancshares had a net margin of 31.22% and a return on equity of 7.11%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.37 EPS. Analysts forecast that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, March 13th. Prosperity Bancshares’s dividend payout ratio is presently 41.88%.

Prosperity Bancshares Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.