Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group lessened its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 24.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 381,986 shares of the bank’s stock after selling 126,978 shares during the quarter. Schroder Investment Management Group owned approximately 0.40% of Prosperity Bancshares worth $28,702,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PB. Sanctuary Advisors LLC acquired a new stake in Prosperity Bancshares during the third quarter valued at approximately $372,000. Jane Street Group LLC increased its holdings in shares of Prosperity Bancshares by 418.0% in the 3rd quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock valued at $8,039,000 after acquiring an additional 90,015 shares during the last quarter. Stifel Financial Corp raised its position in shares of Prosperity Bancshares by 4.3% during the 3rd quarter. Stifel Financial Corp now owns 113,293 shares of the bank’s stock valued at $8,165,000 after acquiring an additional 4,677 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Prosperity Bancshares by 3.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 282,920 shares of the bank’s stock worth $21,128,000 after purchasing an additional 10,589 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in Prosperity Bancshares by 22.6% in the third quarter. Cerity Partners LLC now owns 6,282 shares of the bank’s stock worth $453,000 after purchasing an additional 1,157 shares during the period. Institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PB shares. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Raymond James raised their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a 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 research note on Friday, December 20th. Morgan Stanley dropped their price target on Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, UBS Group reduced their price objective on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.50.

Prosperity Bancshares Stock Performance

Shares of PB opened at $70.64 on Wednesday. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76. The stock’s fifty day moving average is $75.50 and its 200-day moving average is $76.16. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. Analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.28%. Prosperity Bancshares’s payout ratio is 45.85%.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $72.12, for a total value of $36,060.00. Following the sale, the director now directly owns 103,815 shares in the company, valued at approximately $7,487,137.80. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 5,500 shares of company stock worth $416,135 over the last ninety days. Company insiders own 4.20% of the company’s stock.

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.