Prosperity Bancshares, Inc. (NYSE:PB) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 296.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,810 shares of the bank’s stock after acquiring an additional 10,326 shares during the period. SG Americas Securities LLC’s holdings in Prosperity Bancshares were worth $995,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Prosperity Bancshares by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock worth $29,000 after acquiring an additional 177 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Prosperity Bancshares by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 117,692 shares of the bank’s stock worth $7,742,000 after buying an additional 319 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Prosperity Bancshares by 6.1% in the 2nd quarter. Inspire Investing LLC now owns 5,739 shares of the bank’s stock valued at $351,000 after buying an additional 328 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Prosperity Bancshares by 47.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,030 shares of the bank’s stock valued at $63,000 after buying an additional 332 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Prosperity Bancshares by 10.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,855 shares of the bank’s stock worth $261,000 after acquiring an additional 355 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PB shares. Barclays upped their price objective on shares of Prosperity Bancshares from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Royal Bank of Canada raised their price target on Prosperity Bancshares from $70.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. DA Davidson boosted their price objective on Prosperity Bancshares from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Finally, Truist Financial cut shares of Prosperity Bancshares from a “buy” rating to a “hold” rating and cut their target price for the company from $81.00 to $79.00 in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Prosperity Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.58.

Prosperity Bancshares Price Performance

Shares of NYSE PB opened at $70.81 on Friday. Prosperity Bancshares, Inc. has a 1-year low of $49.60 and a 1-year high of $74.87. The company has a market cap of $6.79 billion, a PE ratio of 16.32, a P/E/G ratio of 1.45 and a beta of 0.89. The stock has a fifty day moving average price of $71.55 and a 200 day moving average price of $65.94.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $458.95 million for the quarter, compared to analyst estimates of $290.06 million. Prosperity Bancshares had a net margin of 25.10% and a return on equity of 6.32%. During the same period in the previous year, the business posted $1.21 earnings per share. Analysts anticipate that Prosperity Bancshares, Inc. will post 5.04 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Friday, September 13th. Prosperity Bancshares’s payout ratio is 51.61%.

About Prosperity Bancshares

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.