Sather Financial Group Inc Has $980,000 Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Sather Financial Group Inc lessened its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,027 shares of the bank’s stock after selling 1,500 shares during the quarter. Sather Financial Group Inc’s holdings in Prosperity Bancshares were worth $980,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Prosperity Bancshares by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock worth $29,000 after purchasing an additional 177 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Prosperity Bancshares by 835.9% during the 4th quarter. Parallel Advisors LLC now owns 730 shares of the bank’s stock worth $49,000 after purchasing an additional 652 shares during the last quarter. Abich Financial Wealth Management LLC increased its stake in shares of Prosperity Bancshares by 12,433.3% during the 1st quarter. Abich Financial Wealth Management LLC now owns 752 shares of the bank’s stock worth $49,000 after purchasing an additional 746 shares during the last quarter. Signaturefd LLC increased its stake in shares of Prosperity Bancshares by 171.5% during the 4th quarter. Signaturefd LLC now owns 744 shares of the bank’s stock worth $50,000 after purchasing an additional 470 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Prosperity Bancshares during the 1st quarter worth $50,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

PB has been the topic of a number of research analyst reports. Truist Financial raised their target price on shares of Prosperity Bancshares from $68.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Piper Sandler raised their target price on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Compass Point raised their target price on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, Royal Bank of Canada raised their target price on shares of Prosperity Bancshares from $70.00 to $74.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.81.

Prosperity Bancshares Stock Up 2.9 %

Prosperity Bancshares stock traded up $2.04 during mid-day trading on Friday, reaching $73.32. The company had a trading volume of 661,703 shares, compared to its average volume of 580,183. The company has a 50 day moving average of $65.99 and a 200-day moving average of $63.65. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.46 and a beta of 0.91. Prosperity Bancshares, Inc. has a 52 week low of $49.60 and a 52 week high of $74.67.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The company had revenue of $458.95 million during the quarter, compared to the consensus estimate of $290.06 million. Prosperity Bancshares had a net margin of 25.10% and a return on equity of 6.32%. During the same period last year, the firm earned $1.21 EPS. On average, analysts predict that Prosperity Bancshares, Inc. will post 5.07 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, September 13th. Prosperity Bancshares’s payout ratio is 51.61%.

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.