73,582 Shares in Prosperity Bancshares, Inc. $PB Bought by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL acquired a new position in shares of Prosperity Bancshares, Inc. (NYSE:PB) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 73,582 shares of the bank’s stock, valued at approximately $4,882,000.

Other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in Prosperity Bancshares by 48.7% during the third quarter. American Century Companies Inc. now owns 2,122,031 shares of the bank’s stock worth $140,797,000 after buying an additional 695,114 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Prosperity Bancshares by 231.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 53,875 shares of the bank’s stock worth $3,575,000 after buying an additional 37,602 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in Prosperity Bancshares by 44.1% during the third quarter. Rafferty Asset Management LLC now owns 159,871 shares of the bank’s stock worth $10,607,000 after buying an additional 48,943 shares during the last quarter. SG Americas Securities LLC raised its holdings in Prosperity Bancshares by 634.1% during the third quarter. SG Americas Securities LLC now owns 16,371 shares of the bank’s stock worth $1,086,000 after buying an additional 14,141 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of Prosperity Bancshares in the third quarter valued at about $1,488,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $67.80, for a total transaction of $33,900.00. Following the completion of the sale, the director owned 78,915 shares in the company, valued at approximately $5,350,437. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,100 shares of company stock worth $843,698 in the last three months. Company insiders own 3.96% of the company’s stock.

Prosperity Bancshares Price Performance

Shares of PB stock opened at $68.52 on Thursday. The firm has a 50-day moving average of $69.24 and a 200-day moving average of $68.63. The company has a market cap of $6.95 billion, a P/E ratio of 11.96, a P/E/G ratio of 0.94 and a beta of 0.66. Prosperity Bancshares, Inc. has a one year low of $61.06 and a one year high of $77.20.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, January 28th. The bank reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. Prosperity Bancshares had a net margin of 31.22% and a return on equity of 7.11%. The business had revenue of $317.73 million during the quarter, compared to the consensus estimate of $319.30 million. During the same quarter last year, the company posted $1.37 earnings per share. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, research analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, March 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is 41.88%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PB. Citigroup reiterated a “neutral” rating on shares of Prosperity Bancshares in a report on Monday, February 2nd. Hovde Group increased their target price on shares of Prosperity Bancshares from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Piper Sandler downgraded shares of Prosperity Bancshares from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $77.00 to $74.00 in a report on Thursday, January 29th. Cantor Fitzgerald increased their target price on shares of Prosperity Bancshares from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Finally, Morgan Stanley lowered their target price on shares of Prosperity Bancshares from $91.00 to $83.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Eight investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Prosperity Bancshares currently has a consensus rating of “Hold” and a consensus price target of $78.31.

Prosperity Bancshares Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.