Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Comerica Bank

Comerica Bank lowered its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 7.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,274 shares of the bank’s stock after selling 9,755 shares during the quarter. Comerica Bank owned about 0.12% of Prosperity Bancshares worth $7,517,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in shares of Prosperity Bancshares during the fourth quarter valued at approximately $38,000. Parallel Advisors LLC lifted its position in shares of Prosperity Bancshares by 835.9% during the 4th quarter. Parallel Advisors LLC now owns 730 shares of the bank’s stock valued at $49,000 after acquiring an additional 652 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Prosperity Bancshares during the 1st quarter valued at $50,000. Signaturefd LLC lifted its position in shares of Prosperity Bancshares by 171.5% during the 4th quarter. Signaturefd LLC now owns 744 shares of the bank’s stock valued at $50,000 after acquiring an additional 470 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its position in shares of Prosperity Bancshares by 25,850.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,038 shares of the bank’s stock valued at $70,000 after acquiring an additional 1,034 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PB. Piper Sandler increased their target price on Prosperity Bancshares from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Stephens raised shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 26th. DA Davidson raised their price target on Prosperity Bancshares from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Truist Financial increased their target price on shares of Prosperity Bancshares from $68.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Wedbush raised their price target on shares of Prosperity Bancshares from $63.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.50.

Prosperity Bancshares Trading Down 2.7 %

Shares of Prosperity Bancshares stock traded down $1.90 during midday trading on Friday, reaching $68.21. The company had a trading volume of 249,267 shares, compared to its average volume of 579,781. The stock has a fifty day simple moving average of $63.00 and a 200 day simple moving average of $63.09. Prosperity Bancshares, Inc. has a 1-year low of $49.60 and a 1-year high of $74.05. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.49 and a beta of 0.90.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, July 24th. The bank reported $1.22 EPS 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 firm had revenue of $458.95 million during the quarter, compared to analyst estimates of $290.06 million. During the same quarter in the previous year, the business earned $1.21 EPS. Sell-side analysts expect that Prosperity Bancshares, Inc. will post 5.06 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Friday, September 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is 51.61%.

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.