BW Gestao de Investimentos Ltda. Acquires Shares of 174,867 Prosperity Bancshares, Inc. $PB

BW Gestao de Investimentos Ltda. acquired a new stake in Prosperity Bancshares, Inc. (NYSE:PB) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 174,867 shares of the bank’s stock, valued at approximately $12,085,000.

A number of other hedge funds also recently bought and sold shares of the business. Clearstead Advisors LLC raised its holdings in Prosperity Bancshares by 10.9% in the 3rd quarter. Clearstead Advisors LLC now owns 1,614 shares of the bank’s stock valued at $107,000 after acquiring an additional 159 shares during the last quarter. Belpointe Asset Management LLC raised its holdings in Prosperity Bancshares by 5.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 3,621 shares of the bank’s stock valued at $240,000 after acquiring an additional 176 shares during the last quarter. Osaic Holdings Inc. raised its holdings in Prosperity Bancshares by 34.9% in the 2nd quarter. Osaic Holdings Inc. now owns 719 shares of the bank’s stock valued at $51,000 after acquiring an additional 186 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in Prosperity Bancshares by 0.6% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 31,164 shares of the bank’s stock valued at $2,068,000 after acquiring an additional 188 shares during the last quarter. Finally, Profund Advisors LLC grew its stake in shares of Prosperity Bancshares by 5.9% in the 3rd quarter. Profund Advisors LLC now owns 3,756 shares of the bank’s stock valued at $249,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Stock Performance

Shares of PB stock opened at $67.36 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.01. Prosperity Bancshares, Inc. has a 52 week low of $61.06 and a 52 week high of $77.20. The stock has a market capitalization of $6.79 billion, a PE ratio of 12.20, a P/E/G ratio of 1.06 and a beta of 0.64. The firm has a 50 day moving average of $68.27 and a two-hundred day moving average of $69.60.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, April 29th. The bank reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. Prosperity Bancshares had a net margin of 29.50% and a return on equity of 7.20%. The company had revenue of $367.62 million during the quarter, compared to analysts’ expectations of $358.60 million. During the same quarter last year, the company posted $1.37 EPS. The firm’s revenue was up 19.9% compared to the same quarter last year. On average, research analysts predict that Prosperity Bancshares, Inc. will post 6.27 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, June 15th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 43.48%.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Ned S. Holmes sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $70.04, for a total value of $42,024.00. Following the completion of the transaction, the director owned 41,600 shares of the company’s stock, valued at $2,913,664. This trade represents a 1.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 14,300 shares of company stock valued at $975,055. Company insiders own 3.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PB shares. Cantor Fitzgerald increased their price target on shares of Prosperity Bancshares from $81.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Janney Montgomery Scott cut shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 3rd. Citigroup increased their price target on shares of Prosperity Bancshares from $72.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Weiss Ratings cut shares of Prosperity Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen raised shares of Prosperity Bancshares from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $76.82.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.