Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Amarillo National Bank

Amarillo National Bank decreased its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 42.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,828 shares of the bank’s stock after selling 58,529 shares during the period. Prosperity Bancshares makes up about 1.1% of Amarillo National Bank’s holdings, making the stock its 19th biggest position. Amarillo National Bank owned approximately 0.08% of Prosperity Bancshares worth $5,825,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PB. Dimensional Fund Advisors LP increased its position in Prosperity Bancshares by 14.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,287,615 shares of the bank’s stock worth $262,141,000 after purchasing an additional 532,241 shares during the period. Victory Capital Management Inc. increased its position in Prosperity Bancshares by 3.0% during the 2nd quarter. Victory Capital Management Inc. now owns 6,359,165 shares of the bank’s stock worth $388,799,000 after purchasing an additional 184,453 shares during the period. Thrivent Financial for Lutherans increased its position in Prosperity Bancshares by 16.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 811,772 shares of the bank’s stock worth $49,632,000 after purchasing an additional 112,101 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Prosperity Bancshares by 14.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 784,910 shares of the bank’s stock worth $51,631,000 after purchasing an additional 101,230 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Prosperity Bancshares by 52.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 223,612 shares of the bank’s stock worth $13,672,000 after purchasing an additional 77,039 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Hovde Group boosted their price target on Prosperity Bancshares from $80.50 to $82.50 and gave the stock an “outperform” rating in a research note on Monday, August 26th. Raymond James lowered Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price target on the stock. in a research note on Tuesday, September 17th. DA Davidson lowered Prosperity Bancshares from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $80.00 to $78.00 in a research note on Tuesday, October 15th. Barclays boosted their price target on Prosperity Bancshares from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Morgan Stanley raised Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $75.00 to $86.00 in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Prosperity Bancshares has an average rating of “Moderate Buy” and an average target price of $78.96.

Prosperity Bancshares Stock Down 1.7 %

Shares of Prosperity Bancshares stock opened at $72.26 on Friday. Prosperity Bancshares, Inc. has a fifty-two week low of $52.49 and a fifty-two week high of $75.28. The firm has a market cap of $6.93 billion, a PE ratio of 16.65, a P/E/G ratio of 1.52 and a beta of 0.89. The business’s fifty day moving average is $72.21 and its two-hundred day moving average is $66.66.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. The company had revenue of $459.00 million for the quarter, compared to analyst estimates of $299.83 million. During the same quarter in the prior year, the company posted $1.20 EPS. Equities research analysts anticipate that Prosperity Bancshares, Inc. will post 5.03 EPS for the current year.

Prosperity Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.21%. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, December 13th. Prosperity Bancshares’s dividend payout ratio is presently 53.46%.

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.