Kwmg LLC Boosts Stake in Prosperity Bancshares, Inc. (NYSE:PB)

Kwmg LLC grew its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 3.1% during the first quarter, HoldingsChannel.com reports. The firm owned 82,911 shares of the bank’s stock after purchasing an additional 2,501 shares during the period. Kwmg LLC’s holdings in Prosperity Bancshares were worth $5,454,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Planned Solutions Inc. bought a new stake in Prosperity Bancshares during the fourth quarter worth approximately $37,000. GAMMA Investing LLC purchased a new stake in Prosperity Bancshares in the 4th quarter worth approximately $38,000. Parallel Advisors LLC lifted its position in Prosperity Bancshares by 835.9% in the 4th quarter. Parallel Advisors LLC now owns 730 shares of the bank’s stock worth $49,000 after buying an additional 652 shares in the last quarter. Signaturefd LLC lifted its position in Prosperity Bancshares by 171.5% in the 4th quarter. Signaturefd LLC now owns 744 shares of the bank’s stock worth $50,000 after buying an additional 470 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in Prosperity Bancshares in the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Stock Up 0.4 %

NYSE PB traded up $0.26 during midday trading on Wednesday, hitting $59.26. The company had a trading volume of 332,812 shares, compared to its average volume of 546,164. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 1.26 and a beta of 0.90. The firm has a fifty day simple moving average of $61.52 and a two-hundred day simple moving average of $63.18. Prosperity Bancshares, Inc. has a fifty-two week low of $49.60 and a fifty-two week high of $68.88.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.03. The company had revenue of $420.78 million for the quarter, compared to analyst estimates of $274.88 million. Prosperity Bancshares had a net margin of 24.50% and a return on equity of 6.33%. During the same period last year, the business posted $1.37 EPS. As a group, equities analysts predict that Prosperity Bancshares, Inc. will post 5.01 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.56 per share. The ex-dividend date is Friday, June 14th. This represents a $2.24 annualized dividend and a dividend yield of 3.78%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 51.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Truist Financial restated a “buy” rating and set a $75.00 price target on shares of Prosperity Bancshares in a report on Monday, April 1st. Stephens upgraded shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of Prosperity Bancshares in a report on Tuesday, April 9th. Finally, Barclays assumed coverage on shares of Prosperity Bancshares in a report on Friday, March 8th. They set an “equal weight” rating and a $68.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.86.

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.