8,148 Shares in Prosperity Bancshares, Inc. $PB Purchased by WJ Interests LLC

WJ Interests LLC acquired a new stake in Prosperity Bancshares, Inc. (NYSE:PB) during the third quarter, HoldingsChannel.com reports. The fund acquired 8,148 shares of the bank’s stock, valued at approximately $539,000. Prosperity Bancshares accounts for about 0.2% of WJ Interests LLC’s holdings, making the stock its 14th largest position.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Prosperity Bancshares by 29.5% during the third quarter. GAMMA Investing LLC now owns 2,577 shares of the bank’s stock worth $171,000 after buying an additional 587 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Prosperity Bancshares by 15.9% during the third quarter. Farther Finance Advisors LLC now owns 1,867 shares of the bank’s stock valued at $124,000 after acquiring an additional 256 shares during the last quarter. Kwmg LLC boosted its position in Prosperity Bancshares by 3.1% during the third quarter. Kwmg LLC now owns 104,332 shares of the bank’s stock valued at $6,908,000 after acquiring an additional 3,108 shares during the last quarter. Versant Capital Management Inc boosted its position in Prosperity Bancshares by 51.3% during the third quarter. Versant Capital Management Inc now owns 16,520 shares of the bank’s stock valued at $1,094,000 after acquiring an additional 5,599 shares during the last quarter. Finally, Core Capital Management & Research inc. acquired a new stake in Prosperity Bancshares during the 2nd quarter worth about $146,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ned Holmes sold 600 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $74.26, for a total transaction of $44,556.00. Following the transaction, the director owned 39,500 shares of the company’s stock, valued at $2,933,270. This represents a 1.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 11,600 shares of company stock worth $829,985. 3.96% of the stock is owned by corporate insiders.

Prosperity Bancshares Stock Down 0.1%

Shares of NYSE PB opened at $66.35 on Wednesday. The firm has a market cap of $6.69 billion, a PE ratio of 11.01, a P/E/G ratio of 0.74 and a beta of 0.66. Prosperity Bancshares, Inc. has a 12-month low of $61.06 and a 12-month high of $77.20. The company’s fifty day simple moving average is $70.75 and its 200 day simple moving average is $70.47. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.01.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, July 29th. The bank reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.12. Prosperity Bancshares had a net margin of 29.95% and a return on equity of 7.39%. The business had revenue of $391.25 million during the quarter, compared to analysts’ expectations of $380.73 million. During the same period last year, the company posted $1.42 earnings per share. The business’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, sell-side analysts forecast that Prosperity Bancshares, Inc. will post 6.46 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.60 per share. The ex-dividend date was Tuesday, September 15th. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. Prosperity Bancshares’s dividend payout ratio is currently 41.59%.

Wall Street Analysts Forecast Growth

PB has been the subject of a number of recent analyst reports. Piper Sandler increased their price target on Prosperity Bancshares from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Benchmark began coverage on Prosperity Bancshares in a research report on Wednesday, June 24th. They set a “hold” rating on the stock. Royal Bank Of Canada cut their target price on Prosperity Bancshares from $80.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday. TD Cowen decreased their target price on Prosperity Bancshares from $84.00 to $78.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 target price on shares of Prosperity Bancshares in a report on Tuesday, June 23rd. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $77.73.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a bank holding company headquartered in Houston, Texas. Through its principal subsidiary, Prosperity Bank, the company provides a range of banking and financial services to individuals, businesses and institutional customers.

Prosperity Bank offers deposit accounts, commercial and consumer lending, mortgage and real estate loans, treasury management, cash management, online and mobile banking, and other related financial services. Its lending activities support businesses, agricultural customers, real estate projects and consumers.

Founded in 1983, Prosperity Bancshares has expanded through organic growth and acquisitions.