Corient Private Wealth LLC Purchases 6,282 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Corient Private Wealth LLC grew its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 12.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,506 shares of the bank’s stock after purchasing an additional 6,282 shares during the quarter. Corient Private Wealth LLC owned approximately 0.06% of Prosperity Bancshares worth $4,263,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. grew its position in Prosperity Bancshares by 14.9% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank’s stock worth $71,000 after acquiring an additional 128 shares during the last quarter. GAMMA Investing LLC grew its position in Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after acquiring an additional 143 shares during the last quarter. M&T Bank Corp grew its position in Prosperity Bancshares by 0.3% during the 3rd quarter. M&T Bank Corp now owns 45,392 shares of the bank’s stock worth $3,272,000 after acquiring an additional 149 shares during the last quarter. Sanctuary Advisors LLC grew its position in Prosperity Bancshares by 3.8% during the 4th quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank’s stock worth $430,000 after acquiring an additional 194 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in Prosperity Bancshares by 23.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank’s stock worth $76,000 after acquiring an additional 195 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PB has been the topic of several recent research reports. Stephens raised their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Raymond James raised their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Bank of America upgraded Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Tuesday, January 7th. Wolfe Research reiterated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Finally, StockNews.com cut Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $83.50.

Insider Buying and Selling at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $75.25, for a total transaction of $37,625.00. Following the completion of the transaction, the director now owns 109,815 shares in the company, valued at approximately $8,263,578.75. The trade was a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 5,500 shares of company stock worth $418,095. 4.28% of the stock is owned by insiders.

Prosperity Bancshares Stock Down 0.1 %

PB opened at $70.49 on Friday. The stock has a market cap of $6.71 billion, a PE ratio of 13.93, a PEG ratio of 0.94 and a beta of 0.94. The business has a 50 day moving average of $76.43 and a 200-day moving average of $76.15. Prosperity Bancshares, Inc. has a 52 week low of $57.16 and a 52 week high of $86.76.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. Equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s payout ratio is presently 45.85%.

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.