Albert D Mason Inc. Acquires 221 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Albert D Mason Inc. increased its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,407 shares of the bank’s stock after buying an additional 221 shares during the quarter. Albert D Mason Inc.’s holdings in Prosperity Bancshares were worth $1,462,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP increased its position in Prosperity Bancshares by 533.3% in the second quarter. Quarry LP now owns 494 shares of the bank’s stock worth $30,000 after buying an additional 416 shares in the last quarter. Quest Partners LLC grew its stake in shares of Prosperity Bancshares by 3,147.1% during the 2nd quarter. Quest Partners LLC now owns 552 shares of the bank’s stock valued at $34,000 after acquiring an additional 535 shares during the period. GAMMA Investing LLC grew its stake in shares of Prosperity Bancshares by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock valued at $51,000 after acquiring an additional 227 shares during the period. First Horizon Advisors Inc. increased its holdings in Prosperity Bancshares by 190.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after acquiring an additional 534 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Prosperity Bancshares by 181.6% during the 3rd quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock worth $62,000 after acquiring an additional 554 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Prosperity Bancshares Trading Up 1.2 %

Shares of NYSE PB opened at $78.88 on Friday. Prosperity Bancshares, Inc. has a 12-month low of $57.16 and a 12-month high of $86.75. The firm’s 50-day moving average price is $79.29 and its 200-day moving average price is $73.83. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 1.03 and a beta of 0.93.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The business 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 prior year, the business posted $1.20 earnings per share. On average, equities analysts predict that Prosperity Bancshares, Inc. will post 5.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PB. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Truist Financial cut Prosperity Bancshares from a “buy” rating to a “hold” rating and decreased their price target for the company from $81.00 to $79.00 in a report on Friday, September 20th. DA Davidson lowered Prosperity Bancshares from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $80.00 to $78.00 in a research note on Tuesday, October 15th. Bank of America raised Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $77.00 price target on shares of Prosperity Bancshares in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $81.38.

Insider Transactions at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $78.43, for a total transaction of $39,215.00. Following the completion of the transaction, the director now owns 108,815 shares in the company, valued at $8,534,360.45. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $86.50, for a total value of $346,000.00. Following the completion of the sale, the chairman now owns 229,953 shares in the company, valued at approximately $19,890,934.50. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,100 shares of company stock worth $1,156,639. 4.28% of the stock is currently owned by insiders.

Prosperity Bancshares Company 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.