ORG Partners LLC Acquires 2,000 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

ORG Partners LLC lifted its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 57.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,500 shares of the bank’s stock after purchasing an additional 2,000 shares during the quarter. ORG Partners LLC’s holdings in Prosperity Bancshares were worth $414,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PB. Dimensional Fund Advisors LP lifted its position in shares of Prosperity Bancshares by 14.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,287,615 shares of the bank’s stock valued at $262,141,000 after acquiring an additional 532,241 shares during the period. Point72 Asset Management L.P. bought a new stake in Prosperity Bancshares during the third quarter worth about $16,478,000. Thrivent Financial for Lutherans grew its stake in Prosperity Bancshares by 16.0% during the second quarter. Thrivent Financial for Lutherans now owns 811,772 shares of the bank’s stock worth $49,632,000 after buying an additional 112,101 shares in the last quarter. Jane Street Group LLC increased its holdings in Prosperity Bancshares by 418.0% in the 3rd quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock valued at $8,039,000 after buying an additional 90,015 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Prosperity Bancshares by 11.9% in the 2nd quarter. AQR Capital Management LLC now owns 673,198 shares of the bank’s stock valued at $40,883,000 after buying an additional 71,694 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at Prosperity Bancshares

In other news, Director Leah Henderson sold 1,100 shares of Prosperity Bancshares stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $83.24, for a total value of $91,564.00. Following the completion of the transaction, the director now directly owns 7,525 shares of the company’s stock, valued at approximately $626,381. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.96, for a total value of $41,980.00. Following the sale, the director now owns 114,315 shares in the company, valued at approximately $9,597,887.40. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,600 shares of company stock worth $1,117,424. Company insiders own 4.28% of the company’s stock.

Prosperity Bancshares Stock Performance

Shares of NYSE:PB opened at $73.39 on Friday. The firm has a market cap of $6.99 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.19 and a beta of 0.93. Prosperity Bancshares, Inc. has a 52 week low of $57.16 and a 52 week high of $86.75. The firm’s fifty day moving average is $79.25 and its 200-day moving average is $73.12.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. The firm had revenue of $459.00 million for the quarter, compared to the consensus estimate of $299.83 million. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. During the same period in the previous year, the business earned $1.20 EPS. Sell-side analysts forecast that Prosperity Bancshares, Inc. will post 5.05 EPS for the current year.

Prosperity Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a dividend of $0.58 per share. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.56. The ex-dividend date was Friday, December 13th. This represents a $2.32 annualized dividend and a yield of 3.16%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 49.26%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PB shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 price target on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Raymond James downgraded Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 target price on the stock. in a report on Tuesday, September 17th. Truist Financial cut Prosperity Bancshares from a “buy” rating to a “hold” rating and lowered their price target for the stock from $81.00 to $79.00 in a report on Friday, September 20th. DA Davidson cut Prosperity Bancshares from a “buy” rating to a “neutral” rating and decreased their target price for the company from $80.00 to $78.00 in a research report on Tuesday, October 15th. Finally, Barclays boosted their target price on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Prosperity Bancshares currently has an average rating of “Hold” and a consensus price target of $81.38.

Prosperity Bancshares Profile

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.