Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by American International Group Inc.

American International Group Inc. trimmed its position in Prosperity Bancshares, Inc. (NYSE:PB) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,533 shares of the bank’s stock after selling 5,455 shares during the quarter. American International Group Inc. owned about 0.14% of Prosperity Bancshares worth $8,570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PB. Norges Bank acquired a new position in Prosperity Bancshares in the 4th quarter valued at about $64,749,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Prosperity Bancshares in the 4th quarter valued at approximately $46,306,000. Schroder Investment Management Group purchased a new stake in shares of Prosperity Bancshares in the 4th quarter valued at approximately $32,842,000. Wellington Management Group LLP raised its stake in shares of Prosperity Bancshares by 11.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,213,472 shares of the bank’s stock valued at $120,811,000 after acquiring an additional 227,725 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Prosperity Bancshares by 359.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 247,936 shares of the bank’s stock valued at $16,793,000 after acquiring an additional 193,953 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Prosperity Bancshares Trading Down 0.3 %

Shares of NYSE:PB opened at $58.79 on Thursday. Prosperity Bancshares, Inc. has a 52 week low of $49.60 and a 52 week high of $68.88. The company’s 50 day moving average is $61.61 and its two-hundred day moving average is $63.28. The company has a market cap of $5.64 billion, a PE ratio of 13.55, a P/E/G ratio of 1.26 and a beta of 0.90.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.03. Prosperity Bancshares had a net margin of 24.50% and a return on equity of 6.33%. The company had revenue of $420.78 million for the quarter, compared to the consensus estimate of $274.88 million. During the same period in the prior year, the firm posted $1.37 EPS. As a group, equities research analysts expect that Prosperity Bancshares, Inc. will post 5 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Friday, June 14th. Prosperity Bancshares’s dividend payout ratio is presently 51.61%.

Analysts Set New Price Targets

PB has been the topic of a number of research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of Prosperity Bancshares in a research note on Tuesday, April 9th. Truist Financial reissued a “buy” rating and issued a $75.00 price target on shares of Prosperity Bancshares in a research note on Monday, April 1st. Finally, Barclays started coverage on shares of Prosperity Bancshares in a research note on Friday, March 8th. They set an “equal weight” rating and a $68.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prosperity Bancshares presently has a consensus rating of “Hold” and a consensus price target of $68.86.

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.