ORG Partners LLC Acquires Shares of 3,500 Prosperity Bancshares, Inc. (NYSE:PB)

ORG Partners LLC acquired a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,500 shares of the bank’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PB. Natixis Advisors L.P. grew its stake in shares of Prosperity Bancshares by 226.5% during the fourth quarter. Natixis Advisors L.P. now owns 144,994 shares of the bank’s stock valued at $9,819,000 after buying an additional 100,579 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in Prosperity Bancshares by 359.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 247,936 shares of the bank’s stock worth $16,793,000 after acquiring an additional 193,953 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Prosperity Bancshares by 11.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 884,734 shares of the bank’s stock worth $59,923,000 after acquiring an additional 89,617 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Prosperity Bancshares during the 1st quarter valued at about $2,343,000. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Prosperity Bancshares by 14.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 784,910 shares of the bank’s stock valued at $51,631,000 after buying an additional 101,230 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Prosperity Bancshares Stock Down 0.8 %

Shares of PB traded down $0.56 during mid-day trading on Wednesday, reaching $69.48. 370,054 shares of the company’s stock were exchanged, compared to its average volume of 588,229. The company has a 50-day simple moving average of $64.32 and a two-hundred day simple moving average of $63.33. Prosperity Bancshares, Inc. has a 52-week low of $49.60 and a 52-week high of $74.05. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.44 and a beta of 0.91.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. Prosperity Bancshares had a net margin of 25.10% and a return on equity of 6.32%. The business had revenue of $458.95 million during the quarter, compared to analysts’ expectations of $290.06 million. During the same period last year, the company posted $1.21 EPS. As a group, equities research analysts predict that Prosperity Bancshares, Inc. will post 5.06 EPS 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 paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.22%. Prosperity Bancshares’s dividend payout ratio (DPR) is 51.61%.

Analysts Set New Price Targets

Several research firms recently issued reports on PB. Wedbush lifted their price objective on Prosperity Bancshares from $63.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Compass Point lifted their price target on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, July 26th. DA Davidson lifted their price target on shares of Prosperity Bancshares from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, Truist Financial boosted their price target on shares of Prosperity Bancshares from $68.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prosperity Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.81.

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.