Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 85.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,484 shares of the bank’s stock after selling 20,181 shares during the quarter. SG Americas Securities LLC’s holdings in Prosperity Bancshares were worth $213,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Natixis Advisors L.P. raised its stake in Prosperity Bancshares by 226.5% in the 4th quarter. Natixis Advisors L.P. now owns 144,994 shares of the bank’s stock valued at $9,819,000 after purchasing an additional 100,579 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of Prosperity Bancshares by 359.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 247,936 shares of the bank’s stock valued at $16,793,000 after buying an additional 193,953 shares during the period. Goldman Sachs Group Inc. boosted its position 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 acquiring an additional 89,617 shares during the last quarter. Kingsview Wealth Management LLC purchased a new stake in Prosperity Bancshares in the 1st quarter worth approximately $2,343,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Prosperity Bancshares by 14.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 784,910 shares of the bank’s stock valued at $51,631,000 after acquiring an additional 101,230 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PB has been the subject of a number of recent analyst reports. StockNews.com raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Wedbush upped their price objective on shares of Prosperity Bancshares from $63.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Truist Financial raised their target price on shares of Prosperity Bancshares from $68.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Morgan Stanley raised shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $86.00 in a research report on Monday, August 5th. Finally, Stephens raised shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, June 26th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Prosperity Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $74.81.

Prosperity Bancshares Price Performance

NYSE:PB opened at $73.32 on Friday. Prosperity Bancshares, Inc. has a 12 month low of $49.60 and a 12 month high of $74.67. The business’s 50-day moving average is $66.31 and its two-hundred day moving average is $63.73. The firm has a market capitalization of $6.98 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.46 and a beta of 0.91.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, July 24th. The bank reported $1.22 EPS for the quarter, beating the consensus estimate of $1.20 by $0.02. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. The business had revenue of $458.95 million for the quarter, compared to the consensus estimate of $290.06 million. During the same period last year, the business posted $1.21 EPS. Equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.07 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, September 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is 51.61%.

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.