Prosperity Bancshares, Inc. (NYSE:PB) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. boosted its position in shares of Prosperity Bancshares, Inc. (NYSE:PB – Get Rating) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,955 shares of the bank’s stock after purchasing an additional 1,365 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Prosperity Bancshares were worth $3,485,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its stake in Prosperity Bancshares by 49.1% during the third quarter. Quadrant Capital Group LLC now owns 437 shares of the bank’s stock worth $29,000 after purchasing an additional 144 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Prosperity Bancshares in the 3rd quarter valued at approximately $34,000. Covestor Ltd raised its stake in shares of Prosperity Bancshares by 83.6% in the 1st quarter. Covestor Ltd now owns 692 shares of the bank’s stock valued at $48,000 after acquiring an additional 315 shares during the period. MADDEN SECURITIES Corp purchased a new stake in shares of Prosperity Bancshares in the 4th quarter valued at approximately $74,000. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Prosperity Bancshares in the 3rd quarter valued at approximately $101,000. 81.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PB shares. Morgan Stanley downgraded shares of Prosperity Bancshares from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $58.00 to $60.00 in a research note on Tuesday, May 16th. Truist Financial dropped their price objective on shares of Prosperity Bancshares from $83.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, March 23rd. DA Davidson upgraded shares of Prosperity Bancshares from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Monday, March 13th. Raymond James dropped their price objective on shares of Prosperity Bancshares from $85.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, April 6th. Finally, Wolfe Research upgraded shares of Prosperity Bancshares from an “underperform” rating to an “outperform” rating and set a $68.00 price objective for the company in a report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.73.

Prosperity Bancshares Trading Down 1.8 %

Shares of Prosperity Bancshares stock opened at $60.29 on Monday. The company has a fifty day simple moving average of $61.06 and a 200-day simple moving average of $69.02. Prosperity Bancshares, Inc. has a 12-month low of $56.72 and a 12-month high of $78.76. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 1.12 and a beta of 0.96.

Prosperity Bancshares (NYSE:PB – Get Rating) last issued its earnings results on Wednesday, April 26th. 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 net margin of 39.87% and a return on equity of 7.93%. The business had revenue of $365.58 million during the quarter, compared to analysts’ expectations of $285.02 million. During the same quarter in the prior year, the business posted $1.33 EPS. On average, analysts forecast that Prosperity Bancshares, Inc. will post 5.37 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Wednesday, June 14th. Prosperity Bancshares’s payout ratio is 38.13%.

Insider Activity

In other Prosperity Bancshares news, Director L. Jack Lord purchased 5,000 shares of Prosperity Bancshares stock in a transaction that occurred on Monday, May 1st. The stock was purchased at an average price of $62.04 per share, for a total transaction of $310,200.00. Following the transaction, the director now directly owns 33,125 shares in the company, valued at $2,055,075. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman H E. Timanus, Jr. acquired 1,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was bought at an average price of $62.90 per share, for a total transaction of $62,900.00. Following the transaction, the chairman now owns 202,891 shares in the company, valued at $12,761,843.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director L. Jack Lord acquired 5,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were purchased at an average price of $62.04 per share, with a total value of $310,200.00. Following the transaction, the director now owns 33,125 shares in the company, valued at approximately $2,055,075. The disclosure for this purchase can be found here. Company insiders own 4.20% of the company’s stock.

Prosperity Bancshares Profile

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Prosperity Bancshares, Inc is a holding company, which engages in the provision of financial products and solutions. It offers retail and commercial banking services such as deposits, online Internet banking, loan, investments, trust, and credit card to small and medium-sized businesses and consumers.