Prosperity Bancshares, Inc. $PB Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC boosted its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 350.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,887 shares of the bank’s stock after purchasing an additional 24,028 shares during the quarter. Sanctuary Advisors LLC’s holdings in Prosperity Bancshares were worth $2,075,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PB. Vanguard Group Inc. boosted its position in shares of Prosperity Bancshares by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 10,256,927 shares of the bank’s stock worth $708,856,000 after buying an additional 140,035 shares in the last quarter. State Street Corp increased its holdings in Prosperity Bancshares by 6.6% during the 3rd quarter. State Street Corp now owns 5,580,039 shares of the bank’s stock valued at $373,231,000 after acquiring an additional 343,062 shares in the last quarter. AQR Capital Management LLC increased its holdings in Prosperity Bancshares by 34.5% during the 4th quarter. AQR Capital Management LLC now owns 4,600,715 shares of the bank’s stock valued at $317,955,000 after acquiring an additional 1,179,307 shares in the last quarter. Morgan Stanley increased its holdings in Prosperity Bancshares by 0.4% during the 4th quarter. Morgan Stanley now owns 3,679,871 shares of the bank’s stock valued at $254,316,000 after acquiring an additional 15,192 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Prosperity Bancshares by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,876,428 shares of the bank’s stock worth $129,710,000 after acquiring an additional 7,602 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Ned S. Holmes sold 600 shares of the stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $69.62, for a total transaction of $41,772.00. Following the transaction, the director directly owned 40,800 shares in the company, valued at approximately $2,840,496. This represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 12,100 shares of company stock valued at $849,312 in the last ninety days. Corporate insiders own 3.96% of the company’s stock.

Prosperity Bancshares Stock Down 0.1%

Shares of NYSE PB opened at $73.07 on Thursday. The firm has a market cap of $7.37 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 1.17 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.76 and a current ratio of 0.76. Prosperity Bancshares, Inc. has a 1 year low of $61.06 and a 1 year high of $77.20. The firm’s 50 day moving average price is $70.87 and its 200 day moving average price is $70.14.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, April 29th. The bank reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09. Prosperity Bancshares had a return on equity of 7.20% and a net margin of 29.50%.The company had revenue of $367.62 million during the quarter, compared to the consensus estimate of $358.60 million. During the same period in the previous year, the firm posted $1.37 EPS. Prosperity Bancshares’s revenue was up 19.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Prosperity Bancshares, Inc. will post 6.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on PB shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 price target on shares of Prosperity Bancshares in a report on Tuesday, June 23rd. Citigroup raised their price objective on shares of Prosperity Bancshares from $74.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Benchmark started coverage on Prosperity Bancshares in a research report on Wednesday, June 24th. They set a “hold” rating for the company. TD Cowen upped their target price on Prosperity Bancshares from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded Prosperity Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $76.36.

Prosperity Bancshares Company 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.