Kwmg LLC Has $5.45 Million Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Kwmg LLC boosted its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 3.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,911 shares of the bank’s stock after purchasing an additional 2,501 shares during the quarter. Kwmg LLC owned 0.09% of Prosperity Bancshares worth $5,454,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Natixis Advisors L.P. raised its stake in Prosperity Bancshares by 226.5% in the 4th quarter. Natixis Advisors L.P. now owns 144,994 shares of the bank’s stock worth $9,819,000 after purchasing an additional 100,579 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in Prosperity Bancshares by 359.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 247,936 shares of the bank’s stock worth $16,793,000 after purchasing an additional 193,953 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Prosperity Bancshares by 11.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 884,734 shares of the bank’s stock worth $59,923,000 after purchasing an additional 89,617 shares in the last quarter. Rafferty Asset Management LLC raised its stake in Prosperity Bancshares by 46.0% in the 4th quarter. Rafferty Asset Management LLC now owns 157,131 shares of the bank’s stock worth $10,642,000 after purchasing an additional 49,533 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Prosperity Bancshares by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,693,076 shares of the bank’s stock worth $656,512,000 after purchasing an additional 53,844 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Trading Up 0.4 %

Shares of Prosperity Bancshares stock traded up $0.26 on Wednesday, reaching $59.26. The stock had a trading volume of 332,812 shares, compared to its average volume of 546,164. Prosperity Bancshares, Inc. has a 1 year low of $49.60 and a 1 year high of $68.88. The company has a market cap of $5.69 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 1.26 and a beta of 0.90. The business’s 50 day moving average is $61.52 and its two-hundred day moving average is $63.18.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.03. Prosperity Bancshares had a net margin of 24.50% and a return on equity of 6.33%. The business had revenue of $420.78 million for the quarter, compared to analysts’ expectations of $274.88 million. During the same period last year, the business earned $1.37 earnings per share. On average, equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.01 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PB shares. Barclays began 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. Truist Financial reiterated a “buy” rating and set a $75.00 target price on shares of Prosperity Bancshares in a research report on Monday, April 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of Prosperity Bancshares in a research report on Tuesday, April 9th. Finally, Stephens upgraded shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prosperity Bancshares has a consensus rating of “Moderate Buy” and an average target price of $68.86.

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.