1900 Wealth Management LLC Has $445,000 Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

1900 Wealth Management LLC reduced its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 57.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,576 shares of the bank’s stock after selling 9,000 shares during the quarter. 1900 Wealth Management LLC’s holdings in Prosperity Bancshares were worth $445,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors L.P. grew its holdings in shares of Prosperity Bancshares by 64.1% in the third quarter. Natixis Advisors L.P. now owns 44,415 shares of the bank’s stock valued at $2,424,000 after acquiring an additional 17,351 shares in the last quarter. Amica Mutual Insurance Co. increased its position in Prosperity Bancshares by 417.5% in the third quarter. Amica Mutual Insurance Co. now owns 30,583 shares of the bank’s stock worth $1,669,000 after buying an additional 24,673 shares during the last quarter. NBC Securities Inc. purchased a new stake in Prosperity Bancshares in the third quarter worth $213,000. Panagora Asset Management Inc. increased its position in Prosperity Bancshares by 131.3% in the third quarter. Panagora Asset Management Inc. now owns 8,742 shares of the bank’s stock worth $477,000 after buying an additional 4,963 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in Prosperity Bancshares in the fourth quarter worth $46,306,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Prosperity Bancshares Price Performance

Shares of NYSE:PB traded up $0.81 during midday trading on Tuesday, hitting $62.71. The company had a trading volume of 98,520 shares, compared to its average volume of 556,542. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.23 and a beta of 0.93. The company has a fifty day moving average of $62.54 and a two-hundred day moving average of $61.53. Prosperity Bancshares, Inc. has a 12-month low of $49.60 and a 12-month high of $68.88.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 24th. The bank reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. Prosperity Bancshares had a net margin of 26.24% and a return on equity of 6.62%. The company had revenue of $413.00 million during the quarter, compared to the consensus estimate of $279.34 million. During the same quarter in the prior year, the firm posted $1.51 EPS. Research analysts expect that Prosperity Bancshares, Inc. will post 4.96 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Friday, June 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 49.45%.

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.