Capital Advisors Inc. OK Trims Position in Prosperity Bancshares, Inc. (NYSE:PB)

Capital Advisors Inc. OK cut its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,992 shares of the bank’s stock after selling 333 shares during the period. Capital Advisors Inc. OK’s holdings in Prosperity Bancshares were worth $338,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PB. Vanguard Group Inc. grew its stake in Prosperity Bancshares by 0.4% in the third quarter. Vanguard Group Inc. now owns 9,298,310 shares of the bank’s stock worth $620,011,000 after purchasing an additional 40,530 shares during the period. State Street Corp boosted its position in Prosperity Bancshares by 11.5% in the second quarter. State Street Corp now owns 8,888,314 shares of the bank’s stock worth $506,826,000 after purchasing an additional 917,381 shares during the last quarter. BlackRock Inc. boosted its position in Prosperity Bancshares by 3.5% in the first quarter. BlackRock Inc. now owns 8,642,426 shares of the bank’s stock worth $531,682,000 after purchasing an additional 290,029 shares during the last quarter. Morgan Stanley raised its stake in shares of Prosperity Bancshares by 325.4% in the fourth quarter. Morgan Stanley now owns 2,390,076 shares of the bank’s stock worth $173,711,000 after buying an additional 1,828,204 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Prosperity Bancshares by 11.5% in the third quarter. Wellington Management Group LLP now owns 2,213,472 shares of the bank’s stock worth $120,811,000 after buying an additional 227,725 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Prosperity Bancshares Trading Down 1.1 %

PB opened at $60.36 on Monday. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.22 and a beta of 0.93. Prosperity Bancshares, Inc. has a 12 month low of $49.60 and a 12 month high of $68.88. The stock has a fifty day moving average price of $62.83 and a 200-day moving average price of $61.23.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, January 24th. The bank reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. Prosperity Bancshares had a return on equity of 6.62% and a net margin of 26.24%. The firm had revenue of $413.00 million during the quarter, compared to analyst estimates of $279.34 million. During the same period in the previous year, the company posted $1.51 EPS. On average, equities research analysts forecast that Prosperity Bancshares, Inc. will post 4.96 EPS for the current year.

Prosperity Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.71%. The ex-dividend date was Thursday, March 14th. Prosperity Bancshares’s dividend payout ratio is currently 49.45%.

Analyst Ratings Changes

PB has been the topic of several recent analyst reports. Barclays initiated coverage on Prosperity Bancshares in a research note on Friday, March 8th. They set an “equal weight” rating and a $68.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of Prosperity Bancshares in a research note on Tuesday, April 9th. Morgan Stanley upgraded Prosperity Bancshares from an “underweight” rating to an “equal weight” rating and set a $69.00 target price for the company in a report on Wednesday, February 7th. Truist Financial reiterated a “buy” rating and issued a $75.00 target price on shares of Prosperity Bancshares in a report on Monday, April 1st. Finally, Raymond James boosted their price objective on Prosperity Bancshares from $65.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.79.

About Prosperity Bancshares

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.