Prosperity Bancshares, Inc. $PB Shares Purchased by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. grew its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 5.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,933 shares of the bank’s stock after purchasing an additional 962 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Prosperity Bancshares were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of PB. Wealth Enhancement Advisory Services LLC grew its stake in Prosperity Bancshares by 9.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,801 shares of the bank’s stock worth $512,000 after buying an additional 608 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Prosperity Bancshares by 8,212.4% in the 1st quarter. GAMMA Investing LLC now owns 70,157 shares of the bank’s stock valued at $5,007,000 after purchasing an additional 69,313 shares in the last quarter. NBC Securities Inc. lifted its position in shares of Prosperity Bancshares by 113,516.7% during the 1st quarter. NBC Securities Inc. now owns 6,817 shares of the bank’s stock valued at $486,000 after acquiring an additional 6,811 shares during the period. Harbor Capital Advisors Inc. boosted its position in Prosperity Bancshares by 4.0% during the first quarter. Harbor Capital Advisors Inc. now owns 25,697 shares of the bank’s stock worth $1,834,000 after purchasing an additional 988 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Prosperity Bancshares by 44.9% in the 1st quarter. Fifth Third Bancorp now owns 1,277 shares of the bank’s stock worth $91,000 after buying an additional 396 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Trading Down 2.2%

Shares of NYSE:PB opened at $65.49 on Friday. The firm has a market cap of $6.22 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.00 and a beta of 0.73. The company has a fifty day simple moving average of $67.19 and a 200 day simple moving average of $68.89. Prosperity Bancshares, Inc. has a 12-month low of $61.57 and a 12-month high of $86.75.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.02. The company had revenue of $310.70 million during the quarter, compared to analyst estimates of $315.66 million. Prosperity Bancshares had a net margin of 29.37% and a return on equity of 6.99%. During the same period last year, the business earned $1.22 EPS. As a group, equities research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, September 15th. Prosperity Bancshares’s dividend payout ratio (DPR) is 42.18%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Citigroup reissued a “neutral” rating and set a $68.00 price objective (down from $78.00) on shares of Prosperity Bancshares in a research note on Monday, September 15th. Cowen began coverage on Prosperity Bancshares in a research report on Wednesday, September 24th. They set a “buy” rating for the company. Hovde Group reduced their price objective on Prosperity Bancshares from $85.00 to $83.00 and set an “outperform” rating on the stock in a research report on Thursday, July 24th. TD Cowen assumed coverage on shares of Prosperity Bancshares in a research report on Thursday, September 25th. They set a “buy” rating and a $79.00 target price on the stock. Finally, Piper Sandler lowered their price objective on shares of Prosperity Bancshares from $86.00 to $84.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.13.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $66.64, for a total transaction of $33,320.00. Following the sale, the director owned 91,915 shares in the company, valued at $6,125,215.60. This represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 15,400 shares of company stock valued at $1,056,226 over the last three months. 4.20% of the stock is owned by insiders.

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.