5,392 Shares in Prosperity Bancshares, Inc. (NYSE:PB) Bought by National Wealth Management Group LLC

National Wealth Management Group LLC acquired a new position in shares of Prosperity Bancshares, Inc. (NYSE:PB) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,392 shares of the bank’s stock, valued at approximately $365,000.

A number of other institutional investors have also recently added to or reduced their stakes in PB. Natixis Advisors L.P. grew its stake in shares of Prosperity Bancshares by 64.1% in the third 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 in the last quarter. Amica Mutual Insurance Co. grew its stake in shares of Prosperity Bancshares by 417.5% in the third quarter. Amica Mutual Insurance Co. now owns 30,583 shares of the bank’s stock worth $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 $213,000. Panagora Asset Management Inc. lifted its holdings in shares of Prosperity Bancshares by 131.3% in the third quarter. Panagora Asset Management Inc. now owns 8,742 shares of the bank’s stock valued at $477,000 after buying an additional 4,963 shares during the period. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Prosperity Bancshares in the fourth quarter valued at $46,306,000. 80.69% of the stock is currently owned by institutional investors.

Prosperity Bancshares Stock Performance

Shares of NYSE PB traded up $1.18 during mid-day trading on Monday, reaching $61.95. 377,927 shares of the company traded hands, compared to its average volume of 562,643. The stock has a market cap of $5.79 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 1.23 and a beta of 0.93. The company’s fifty day moving average is $62.54 and its two-hundred day moving average is $61.53. Prosperity Bancshares, Inc. has a fifty-two week low of $49.60 and a fifty-two week high of $68.88.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, January 24th. The bank reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. Prosperity Bancshares had a return on equity of 6.62% and a net margin of 26.24%. The firm had revenue of $413.00 million during the quarter, compared to the consensus estimate of $279.34 million. During the same quarter in the prior year, the company earned $1.51 EPS. Research analysts forecast that Prosperity Bancshares, Inc. will post 4.96 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.56 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.62%. Prosperity Bancshares’s dividend payout ratio is currently 49.45%.

Analyst Upgrades and Downgrades

PB has been the subject of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of Prosperity Bancshares in a report on Tuesday, April 9th. 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. Barclays assumed coverage on Prosperity Bancshares in a research report on Friday, March 8th. They set an “equal weight” rating and a $68.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and issued a $75.00 target price on shares of Prosperity Bancshares in a research report on Monday, April 1st. Finally, Raymond James upped their target price on Prosperity Bancshares from $65.00 to $80.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prosperity Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.79.

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.