Kwmg LLC Sells 2,764 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Kwmg LLC trimmed its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,631 shares of the bank’s stock after selling 2,764 shares during the quarter. Kwmg LLC owned about 0.09% of Prosperity Bancshares worth $6,603,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PB. Dimensional Fund Advisors LP grew its stake in shares of Prosperity Bancshares by 14.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,287,615 shares of the bank’s stock valued at $262,141,000 after purchasing an additional 532,241 shares during the last quarter. Geode Capital Management LLC boosted its position in Prosperity Bancshares by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank’s stock valued at $123,162,000 after buying an additional 15,309 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Prosperity Bancshares by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,183,295 shares of the bank’s stock worth $85,280,000 after acquiring an additional 6,518 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Prosperity Bancshares by 4.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 835,565 shares of the bank’s stock valued at $60,219,000 after acquiring an additional 36,480 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in Prosperity Bancshares by 0.5% in the third quarter. Verition Fund Management LLC now owns 834,701 shares of the bank’s stock valued at $60,157,000 after acquiring an additional 3,978 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PB. Royal Bank of Canada reissued a “sector perform” rating and set a $77.00 price target on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Truist Financial downgraded shares of Prosperity Bancshares from a “buy” rating to a “hold” rating and cut their price target for the company from $81.00 to $79.00 in a research report on Friday, September 20th. UBS Group lowered their target price on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, December 26th. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Tuesday, January 7th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $81.38.

Prosperity Bancshares Trading Up 2.5 %

NYSE PB traded up $1.85 during trading on Monday, reaching $75.25. The company’s stock had a trading volume of 459,486 shares, compared to its average volume of 427,775. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.19 and a beta of 0.93. The firm has a 50 day moving average price of $79.25 and a 200 day moving average price of $73.42. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. The company had revenue of $459.00 million for the quarter, compared to the consensus estimate of $299.83 million. During the same quarter last year, the business posted $1.20 EPS. On average, equities analysts forecast that Prosperity Bancshares, Inc. will post 5.05 EPS for the current fiscal year.

Prosperity Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Friday, December 13th. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.56. Prosperity Bancshares’s dividend payout ratio (DPR) is 49.26%.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Harrison Stafford II sold 4,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the sale, the director now directly owns 107,137 shares in the company, valued at approximately $8,578,459.59. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $74.12, for a total value of $37,060.00. Following the completion of the transaction, the director now directly owns 109,315 shares in the company, valued at $8,102,427.80. This represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,600 shares of company stock worth $1,117,424 in the last ninety days. Company insiders own 4.28% of the company’s stock.

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.