Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its position in Prosperity Bancshares, Inc. (NYSE:PBFree Report) by 74.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,040 shares of the bank’s stock after selling 17,764 shares during the period. BNP Paribas Financial Markets’ holdings in Prosperity Bancshares were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Planned Solutions Inc. acquired a new stake in Prosperity Bancshares in the fourth quarter valued at about $37,000. GAMMA Investing LLC acquired a new stake in shares of Prosperity Bancshares during the 4th quarter valued at approximately $38,000. Signaturefd LLC lifted its position in shares of Prosperity Bancshares by 171.5% during the 4th quarter. Signaturefd LLC now owns 744 shares of the bank’s stock valued at $50,000 after acquiring an additional 470 shares during the period. Spire Wealth Management lifted its position in shares of Prosperity Bancshares by 17.7% during the 3rd quarter. Spire Wealth Management now owns 1,290 shares of the bank’s stock valued at $70,000 after acquiring an additional 194 shares during the period. Finally, Covestor Ltd lifted its position in shares of Prosperity Bancshares by 12.3% during the 3rd quarter. Covestor Ltd now owns 2,231 shares of the bank’s stock valued at $122,000 after acquiring an additional 244 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Prosperity Bancshares from an “underweight” rating to an “equal weight” rating and set a $69.00 price target for the company in a research report on Wednesday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of Prosperity Bancshares in a research report on Tuesday, April 9th. Barclays started coverage on Prosperity Bancshares in a research report on Friday, March 8th. They set an “equal weight” rating and a $68.00 price objective for the company. Finally, Truist Financial restated a “buy” rating and set a $75.00 price objective on shares of Prosperity Bancshares in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $68.86.

Read Our Latest Research Report on Prosperity Bancshares

Prosperity Bancshares Stock Performance

PB stock opened at $61.03 on Tuesday. The stock has a market capitalization of $5.86 billion, a P/E ratio of 14.06, a PEG ratio of 1.33 and a beta of 0.93. Prosperity Bancshares, Inc. has a one year low of $49.60 and a one year high of $68.88. The company has a 50 day moving average price of $62.78 and a two-hundred day moving average price of $63.33.

Prosperity Bancshares (NYSE:PBGet Free Report) last released its earnings results on Wednesday, April 24th. The bank reported $1.18 EPS for the quarter, topping the consensus estimate of $1.15 by $0.03. The firm had revenue of $420.78 million during the quarter, compared to analysts’ expectations of $274.88 million. Prosperity Bancshares had a net margin of 24.50% and a return on equity of 6.33%. During the same period in the previous year, the company earned $1.37 EPS. Research analysts forecast that Prosperity Bancshares, Inc. will post 5.01 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.56 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.24 annualized dividend and a yield of 3.67%. Prosperity Bancshares’s payout ratio is currently 51.61%.

About Prosperity Bancshares

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Prosperity Bancshares (NYSE:PB)

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