Prosperity Bancshares, Inc. (NYSE:PB) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 11.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,931 shares of the bank’s stock after purchasing an additional 2,200 shares during the period. Handelsbanken Fonder AB’s holdings in Prosperity Bancshares were worth $1,508,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Goldman Sachs Group Inc. raised its holdings in Prosperity Bancshares by 11.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 884,734 shares of the bank’s stock worth $59,923,000 after purchasing an additional 89,617 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Prosperity Bancshares in the first quarter valued at $2,343,000. Amica Mutual Insurance Co. boosted its stake in Prosperity Bancshares by 41.9% during the second quarter. Amica Mutual Insurance Co. now owns 157,770 shares of the bank’s stock valued at $9,646,000 after buying an additional 46,593 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Prosperity Bancshares by 14.8% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 784,910 shares of the bank’s stock worth $51,631,000 after acquiring an additional 101,230 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in Prosperity Bancshares by 394.8% in the second quarter. Harbor Capital Advisors Inc. now owns 11,465 shares of the bank’s stock worth $701,000 after acquiring an additional 9,148 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Prosperity Bancshares Stock Down 0.4 %

Prosperity Bancshares stock opened at $70.81 on Friday. Prosperity Bancshares, Inc. has a 12 month low of $49.60 and a 12 month high of $74.87. The stock has a market cap of $6.79 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.45 and a beta of 0.89. The company’s fifty day simple moving average is $71.55 and its 200-day simple moving average is $65.94.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The firm had revenue of $458.95 million for the quarter, compared to the consensus estimate of $290.06 million. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. During the same quarter in the prior year, the company posted $1.21 earnings per share. On average, equities research analysts expect that Prosperity Bancshares, Inc. will post 5.04 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

PB has been the topic of a number of research reports. Barclays boosted their target price on shares of Prosperity Bancshares from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Morgan Stanley raised Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $75.00 to $86.00 in a research note on Monday, August 5th. Wedbush raised Prosperity Bancshares from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $75.00 to $90.00 in a research report on Tuesday, September 24th. Piper Sandler upped their target price on Prosperity Bancshares from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada lifted 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.58.

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.