KBC Group NV Has $204,000 Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

KBC Group NV increased its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 15.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,824 shares of the bank’s stock after buying an additional 376 shares during the period. KBC Group NV’s holdings in Prosperity Bancshares were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of Prosperity Bancshares by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock valued at $29,000 after buying an additional 177 shares in the last quarter. Quarry LP lifted its stake in Prosperity Bancshares by 533.3% during the second quarter. Quarry LP now owns 494 shares of the bank’s stock worth $30,000 after purchasing an additional 416 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Prosperity Bancshares by 3,147.1% in the 2nd quarter. Quest Partners LLC now owns 552 shares of the bank’s stock valued at $34,000 after purchasing an additional 535 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Prosperity Bancshares in the 2nd quarter valued at $43,000. Finally, Headlands Technologies LLC acquired a new position in shares of Prosperity Bancshares during the 2nd quarter worth $46,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Price Performance

Shares of NYSE:PB opened at $81.71 on Thursday. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 1.23 and a beta of 0.89. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $85.13. The firm has a fifty day moving average price of $74.38 and a two-hundred day moving average price of $68.76.

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

Prosperity Bancshares Increases Dividend

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

Insider Activity

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $81.44, for a total transaction of $40,720.00. Following the completion of the transaction, the director now owns 113,815 shares of the company’s stock, valued at $9,269,093.60. This represents a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Compass Point increased their price objective on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler boosted their target price on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Truist Financial cut Prosperity Bancshares from a “buy” rating to a “hold” rating and dropped their price target for the company from $81.00 to $79.00 in a research note on Friday, September 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $77.00 price objective on shares of Prosperity Bancshares in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.96.

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.