Sei Investments Co. Sells 46,030 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Sei Investments Co. decreased its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB – Free Report) by 17.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 222,536 shares of the bank’s stock after selling 46,030 shares during the period. Sei Investments Co. owned 0.24% of Prosperity Bancshares worth $13,691,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Zions Bancorporation N.A. bought a new position in Prosperity Bancshares in the 4th quarter worth about $30,000. Covestor Ltd raised its holdings in Prosperity Bancshares by 83.6% in the first quarter. Covestor Ltd now owns 692 shares of the bank’s stock worth $48,000 after buying an additional 315 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Prosperity Bancshares by 73.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 710 shares of the bank’s stock worth $52,000 after buying an additional 300 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Prosperity Bancshares by 78.5% during the fourth quarter. Quadrant Capital Group LLC now owns 780 shares of the bank’s stock valued at $57,000 after buying an additional 343 shares during the last quarter. Finally, Spire Wealth Management increased its position in shares of Prosperity Bancshares by 47.9% during the first quarter. Spire Wealth Management now owns 1,096 shares of the bank’s stock valued at $67,000 after acquiring an additional 355 shares in the last quarter. 81.70% of the stock is currently owned by hedge funds and other institutional investors.

Prosperity Bancshares Trading Down 1.8 %

Shares of NYSE PB opened at $55.51 on Friday. Prosperity Bancshares, Inc. has a 12-month low of $54.45 and a 12-month high of $78.76. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.12 and a beta of 0.96. The firm has a 50 day moving average of $58.89 and a 200 day moving average of $60.98.

Prosperity Bancshares (NYSE:PB – Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The bank reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. The firm had revenue of $276.15 million during the quarter, compared to the consensus estimate of $281.98 million. Prosperity Bancshares had a net margin of 34.03% and a return on equity of 7.55%. Sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.05 EPS for the current year.

Prosperity Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, September 14th. Prosperity Bancshares’s payout ratio is 41.43%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PB. Wedbush restated a “neutral” rating and issued a $64.00 price objective on shares of Prosperity Bancshares in a report on Thursday, July 27th. StockNews.com raised Prosperity Bancshares to a “sell” rating in a report on Friday, August 25th. Raymond James lifted their price objective on Prosperity Bancshares from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Truist Financial lowered their target price on shares of Prosperity Bancshares from $71.00 to $64.00 in a research note on Thursday, June 29th. Finally, Stephens lifted their price target on shares of Prosperity Bancshares from $63.00 to $67.00 in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $71.00.

Read Our Latest Analysis on Prosperity Bancshares

About Prosperity Bancshares

(Free Report)

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; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.

Featured Stories

Want to see what other hedge funds are holding PB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prosperity Bancshares, Inc. (NYSE:PB – Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Prosperity Bancshares, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Prosperity Bancshares wasn’t on the list.

While Prosperity Bancshares currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Wondering when you’ll finally be able to invest in SpaceX, StarLink or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.

Get This Free Report