Natixis Advisors LLC Boosts Position in Prosperity Bancshares, Inc. (NYSE:PB)

Natixis Advisors LLC raised its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 9.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 212,125 shares of the bank’s stock after buying an additional 18,424 shares during the period. Natixis Advisors LLC’s holdings in Prosperity Bancshares were worth $15,288,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of Prosperity Bancshares by 59.6% in the second quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock worth $29,000 after purchasing an additional 177 shares during the last quarter. Quarry LP boosted its holdings in Prosperity Bancshares by 533.3% during the 2nd quarter. Quarry LP now owns 494 shares of the bank’s stock valued at $30,000 after acquiring an additional 416 shares during the period. Quest Partners LLC grew its holdings in shares of Prosperity Bancshares by 3,147.1% in the second quarter. Quest Partners LLC now owns 552 shares of the bank’s stock worth $34,000 after purchasing an additional 535 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Prosperity Bancshares during the second quarter worth approximately $43,000. Finally, Headlands Technologies LLC bought a new stake in Prosperity Bancshares during the 2nd quarter valued at $46,000. 80.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PB shares. Truist Financial cut Prosperity Bancshares from a “buy” rating to a “hold” rating and dropped their target price for the company from $81.00 to $79.00 in a research report on Friday, September 20th. Raymond James cut shares of Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price target for the company. in a report on Tuesday, September 17th. Piper Sandler increased their price target on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Prosperity Bancshares in a report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.96.

Prosperity Bancshares Trading Down 0.7 %

Shares of PB opened at $81.80 on Wednesday. The stock’s 50 day moving average is $74.18 and its two-hundred day moving average is $68.67. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $85.13. The firm has a market capitalization of $7.79 billion, a PE ratio of 17.37, a P/E/G ratio of 1.23 and a beta of 0.89.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. The business had revenue of $459.00 million for the quarter, compared to analyst estimates of $299.83 million. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. During the same period in the previous year, the firm earned $1.20 EPS. On average, sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.05 EPS for the current year.

Prosperity Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.58 per share. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Friday, December 13th. Prosperity Bancshares’s dividend payout ratio is presently 47.56%.

Insider Buying and Selling at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.96, for a total transaction of $41,980.00. Following the completion of the sale, the director now directly owns 114,315 shares of the company’s stock, valued at approximately $9,597,887.40. This represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.28% of the stock is owned by company insiders.

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.