Nisa Investment Advisors LLC Sells 7,600 Shares of Prosperity Bancshares, Inc. $PB

Nisa Investment Advisors LLC lessened its position in Prosperity Bancshares, Inc. (NYSE:PB) by 52.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,992 shares of the bank’s stock after selling 7,600 shares during the period. Nisa Investment Advisors LLC’s holdings in Prosperity Bancshares were worth $468,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PB. Parallel Advisors LLC boosted its position in shares of Prosperity Bancshares by 16.8% during the second quarter. Parallel Advisors LLC now owns 978 shares of the bank’s stock worth $69,000 after purchasing an additional 141 shares in the last quarter. AE Wealth Management LLC raised its stake in Prosperity Bancshares by 3.8% during the 2nd quarter. AE Wealth Management LLC now owns 4,640 shares of the bank’s stock worth $326,000 after buying an additional 172 shares during the period. Osaic Holdings Inc. lifted its holdings in Prosperity Bancshares by 34.9% during the second quarter. Osaic Holdings Inc. now owns 719 shares of the bank’s stock worth $51,000 after acquiring an additional 186 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Prosperity Bancshares by 19.3% in the second quarter. First Horizon Advisors Inc. now owns 1,191 shares of the bank’s stock valued at $84,000 after acquiring an additional 193 shares during the period. Finally, Signaturefd LLC grew its stake in Prosperity Bancshares by 33.8% in the second quarter. Signaturefd LLC now owns 985 shares of the bank’s stock valued at $69,000 after acquiring an additional 249 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $71.70, for a total transaction of $35,850.00. Following the sale, the director directly owned 84,415 shares of the company’s stock, valued at $6,052,555.50. The trade was a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 16,150 shares of company stock valued at $1,115,794. 4.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on PB. Piper Sandler dropped their price target on Prosperity Bancshares from $84.00 to $77.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. TD Cowen increased their target price on Prosperity Bancshares from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Raymond James Financial lowered shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Cowen reiterated a “buy” rating on shares of Prosperity Bancshares in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada lowered their price objective on shares of Prosperity Bancshares from $78.00 to $72.00 and set a “sector perform” rating for the company in a research report on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Prosperity Bancshares presently has an average rating of “Moderate Buy” and an average target price of $80.75.

Prosperity Bancshares Stock Performance

NYSE PB opened at $72.42 on Friday. Prosperity Bancshares, Inc. has a 52 week low of $61.06 and a 52 week high of $82.75. The stock’s 50 day moving average price is $69.94 and its two-hundred day moving average price is $68.44. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 0.96 and a beta of 0.68.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, October 29th. The bank reported $1.45 earnings per share for the quarter, hitting the consensus estimate of $1.45. Prosperity Bancshares had a net margin of 30.28% and a return on equity of 7.06%. The company had revenue of $314.67 million during the quarter, compared to analysts’ expectations of $317.94 million. During the same period last year, the business earned $1.34 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, December 15th. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.58. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 42.78%.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.