Prosperity Bancshares, Inc. (NYSE:PB) Stock Holdings Cut by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC trimmed its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 14.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,048 shares of the bank’s stock after selling 1,000 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Prosperity Bancshares were worth $410,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Natixis Advisors L.P. grew its position in Prosperity Bancshares by 64.1% in the 3rd quarter. Natixis Advisors L.P. now owns 44,415 shares of the bank’s stock worth $2,424,000 after purchasing an additional 17,351 shares during the last quarter. Amica Mutual Insurance Co. increased its holdings in Prosperity Bancshares by 417.5% during the 3rd quarter. Amica Mutual Insurance Co. now owns 30,583 shares of the bank’s stock valued at $1,669,000 after purchasing an additional 24,673 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Prosperity Bancshares in the third quarter worth about $213,000. Panagora Asset Management Inc. lifted its stake in shares of Prosperity Bancshares by 131.3% during the third quarter. Panagora Asset Management Inc. now owns 8,742 shares of the bank’s stock valued at $477,000 after acquiring an additional 4,963 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Prosperity Bancshares during the fourth quarter worth approximately $46,306,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Stock Down 0.3 %

NYSE:PB opened at $63.10 on Wednesday. The firm has a market capitalization of $5.90 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.26 and a beta of 0.93. Prosperity Bancshares, Inc. has a twelve month low of $49.60 and a twelve month high of $68.88. The company has a fifty day moving average of $62.56 and a 200-day moving average of $62.34.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. Prosperity Bancshares had a net margin of 24.50% and a return on equity of 6.33%. The company had revenue of $420.78 million for the quarter, compared to analysts’ expectations of $274.88 million. During the same quarter in the prior year, the firm earned $1.37 EPS. On average, analysts anticipate that Prosperity Bancshares, Inc. will post 4.99 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.56 per share. The ex-dividend date is Friday, June 14th. This represents a $2.24 annualized dividend and a dividend yield of 3.55%. Prosperity Bancshares’s dividend payout ratio is 51.61%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays initiated coverage on shares of Prosperity Bancshares in a research report on Friday, March 8th. They issued an “equal weight” rating and a $68.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and set a $75.00 price target on shares of Prosperity Bancshares in a research note on Monday, April 1st. Morgan Stanley raised Prosperity Bancshares from an “underweight” rating to an “equal weight” rating and set a $69.00 price target on the stock in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of Prosperity Bancshares in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $68.86.

Prosperity Bancshares Company 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.