2,926 Shares in Prosperity Bancshares, Inc. (NYSE:PB) Purchased by XTX Topco Ltd

XTX Topco Ltd bought a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) during the third quarter, HoldingsChannel reports. The institutional investor bought 2,926 shares of the bank’s stock, valued at approximately $211,000.

A number of other large investors also recently added to or reduced their stakes in PB. Raymond James & Associates raised its stake in shares of Prosperity Bancshares by 8.0% during the second quarter. Raymond James & Associates now owns 29,860 shares of the bank’s stock worth $1,826,000 after buying an additional 2,223 shares during the last quarter. Fifth Third Bancorp lifted its stake 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 purchasing an additional 332 shares during the period. Retirement Systems of Alabama boosted its position in shares of Prosperity Bancshares by 0.6% in the 2nd quarter. Retirement Systems of Alabama now owns 118,411 shares of the bank’s stock worth $7,240,000 after purchasing an additional 719 shares during the last quarter. Ceredex Value Advisors LLC grew its stake in shares of Prosperity Bancshares by 2.4% during the second quarter. Ceredex Value Advisors LLC now owns 218,446 shares of the bank’s stock worth $13,473,000 after purchasing an additional 5,100 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Prosperity Bancshares by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 935,420 shares of the bank’s stock valued at $57,192,000 after purchasing an additional 19,224 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. StockNews.com cut Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Friday, November 29th. Raymond James lowered shares of Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price objective on the stock. in a research note on Tuesday, September 17th. Barclays upped their target price on shares of Prosperity Bancshares from $76.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Truist Financial lowered shares of Prosperity Bancshares from a “buy” rating to a “hold” rating and decreased their price target for the company from $81.00 to $79.00 in a report on Friday, September 20th. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $81.65.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Harrison Stafford II sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $80.07, for a total transaction of $320,280.00. Following the transaction, the director now owns 107,137 shares of the company’s stock, valued at $8,578,459.59. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $78.48, for a total value of $39,240.00. Following the sale, the director now owns 110,815 shares in the company, valued at approximately $8,696,761.20. This represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,100 shares of company stock worth $1,004,719. 4.28% of the stock is owned by insiders.

Prosperity Bancshares Trading Down 1.6 %

PB stock opened at $74.11 on Friday. The stock has a market cap of $7.06 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The stock has a 50-day moving average price of $78.58 and a two-hundred day moving average price of $71.43. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.75.

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

Prosperity Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, December 13th. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.56. Prosperity Bancshares’s payout ratio is currently 49.26%.

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.