XTX Topco Ltd Invests $709,000 in Prosperity Bancshares, Inc. (NYSE:PB)

XTX Topco Ltd bought a new stake in Prosperity Bancshares, Inc. (NYSE:PB – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,523 shares of the bank’s stock, valued at approximately $709,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its position in Prosperity Bancshares by 1.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 43,697 shares of the bank’s stock valued at $2,688,000 after buying an additional 505 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Prosperity Bancshares by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 357,739 shares of the bank’s stock valued at $26,000,000 after purchasing an additional 2,421 shares during the last quarter. Machina Capital S.A.S. acquired a new position in Prosperity Bancshares during the 1st quarter valued at about $86,000. Bessemer Group Inc. acquired a new position in Prosperity Bancshares during the 1st quarter valued at about $207,000. Finally, North Star Asset Management Inc. boosted its stake in Prosperity Bancshares by 17.8% during the 1st quarter. North Star Asset Management Inc. now owns 185,156 shares of the bank’s stock valued at $11,391,000 after purchasing an additional 27,976 shares during the last quarter. 81.70% of the stock is owned by institutional investors.

Prosperity Bancshares Trading Up 1.2 %

Prosperity Bancshares stock opened at $56.17 on Friday. Prosperity Bancshares, Inc. has a 12 month low of $54.45 and a 12 month high of $78.76. The business’s 50 day simple moving average is $58.88 and its 200 day simple moving average is $60.76. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 1.10 and a beta of 0.96.

Prosperity Bancshares (NYSE:PB – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The bank reported $1.21 EPS for the quarter, beating the consensus estimate of $1.19 by $0.02. Prosperity Bancshares had a return on equity of 7.55% and a net margin of 34.03%. The business had revenue of $276.15 million for the quarter, compared to the consensus estimate of $281.98 million. As a group, equities research analysts forecast that Prosperity Bancshares, Inc. will post 5.05 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.20 dividend on an annualized basis and a yield of 3.92%. Prosperity Bancshares’s payout ratio is 41.43%.

Analyst Ratings Changes

A number of research firms have issued reports on PB. StockNews.com upgraded Prosperity Bancshares to a “sell” rating in a research note on Friday, August 25th. Truist Financial cut their price target on Prosperity Bancshares from $71.00 to $64.00 in a research note on Thursday, June 29th. Stephens lifted their price target on Prosperity Bancshares from $63.00 to $67.00 in a research note on Thursday, July 27th. Piper Sandler boosted their target price on Prosperity Bancshares from $72.00 to $74.00 in a research note on Thursday, July 27th. Finally, Morgan Stanley restated an “underweight” rating and issued a $60.00 target price on shares of Prosperity Bancshares in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.00.

Check Out Our Latest Stock Report on Prosperity Bancshares

Prosperity Bancshares Company Profile

(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.

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