Prosperity Bancshares, Inc. (NYSE:PB) Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC increased its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 15.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,154 shares of the bank’s stock after buying an additional 1,096 shares during the quarter. Tectonic Advisors LLC’s holdings in Prosperity Bancshares were worth $614,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PB. Point72 Asset Management L.P. acquired a new stake in Prosperity Bancshares in the 3rd quarter valued at approximately $16,478,000. Jane Street Group LLC boosted its position in shares of Prosperity Bancshares by 418.0% during the third quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock worth $8,039,000 after buying an additional 90,015 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Prosperity Bancshares in the third quarter valued at $4,804,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Prosperity Bancshares by 21.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 272,331 shares of the bank’s stock valued at $19,627,000 after buying an additional 48,719 shares during the period. Finally, Prospector Partners LLC lifted its stake in Prosperity Bancshares by 24.6% during the 3rd quarter. Prospector Partners LLC now owns 228,992 shares of the bank’s stock worth $16,503,000 after acquiring an additional 45,177 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.96, for a total transaction of $41,980.00. Following the transaction, the director now owns 114,315 shares of the company’s stock, valued at approximately $9,597,887.40. This trade represents a 0.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $86.50, for a total transaction of $346,000.00. Following the transaction, the chairman now owns 229,953 shares in the company, valued at $19,890,934.50. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,100 shares of company stock valued at $1,236,104 over the last three months. Company insiders own 4.28% of the company’s stock.

Prosperity Bancshares Stock Up 0.5 %

Shares of PB opened at $80.64 on Thursday. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 0.97 and a beta of 0.94. The business’s 50 day moving average is $78.39 and its two-hundred day moving average is $75.36. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.75.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. On average, equities analysts expect that Prosperity Bancshares, Inc. will post 5.8 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 2.88%. Prosperity Bancshares’s payout ratio is currently 45.85%.

Analyst Ratings Changes

PB has been the subject of several recent research reports. DA Davidson lowered shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $80.00 to $78.00 in a research note on Tuesday, October 15th. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Tuesday, January 7th. Stephens upped their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Barclays lifted their target price on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $77.00 target price on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

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.