Tudor Investment Corp Et Al Acquires 3,611 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Posted by Defense World Staff on Mar 7th, 2023

Tudor Investment Corp Et Al raised its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB – Get Rating) by 98.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,261 shares of the bank’s stock after purchasing an additional 3,611 shares during the quarter. Tudor Investment Corp Et Al’s holdings in Prosperity Bancshares were worth $484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PB. State Street Corp grew its stake in shares of Prosperity Bancshares by 7.4% in the 2nd quarter. State Street Corp now owns 8,284,856 shares of the bank’s stock worth $569,912,000 after acquiring an additional 570,234 shares in the last quarter. BlackRock Inc. grew its stake in shares of Prosperity Bancshares by 3.1% in the 1st quarter. BlackRock Inc. now owns 8,212,796 shares of the bank’s stock worth $569,805,000 after acquiring an additional 244,440 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Prosperity Bancshares by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 5,337,462 shares of the bank’s stock worth $355,903,000 after acquiring an additional 480,756 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Prosperity Bancshares by 2.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,213,953 shares of the bank’s stock worth $219,416,000 after acquiring an additional 63,385 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of Prosperity Bancshares by 1.2% in the 3rd quarter. Brown Advisory Inc. now owns 2,582,230 shares of the bank’s stock worth $172,184,000 after acquiring an additional 30,734 shares in the last quarter. Institutional investors own 81.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Raymond James upgraded shares of Prosperity Bancshares from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Tuesday, February 21st. DA Davidson reissued a “neutral” rating on shares of Prosperity Bancshares in a report on Wednesday, December 21st. Janney Montgomery Scott downgraded shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating and set a $80.00 price target on the stock. in a report on Thursday, January 26th. They noted that the move was a valuation call. Morgan Stanley began coverage on shares of Prosperity Bancshares in a report on Monday, December 5th. They issued an “equal weight” rating and a $69.00 price target on the stock. Finally, StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, January 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Prosperity Bancshares currently has an average rating of “Hold” and a consensus target price of $76.27.

Prosperity Bancshares Stock Down 0.6 %

NYSE PB opened at $71.90 on Tuesday. The company has a market cap of $6.57 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.23 and a beta of 0.99. Prosperity Bancshares, Inc. has a 52 week low of $64.69 and a 52 week high of $78.76. The firm’s 50-day simple moving average is $74.37 and its two-hundred day simple moving average is $72.72.

Prosperity Bancshares (NYSE:PB – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. Prosperity Bancshares had a net margin of 42.30% and a return on equity of 7.97%. The firm had revenue of $346.32 million for the quarter, compared to the consensus estimate of $296.52 million. During the same period in the prior year, the firm posted $1.38 earnings per share. As a group, equities research analysts anticipate that Prosperity Bancshares, Inc. will post 5.86 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Wednesday, March 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Tuesday, March 14th. Prosperity Bancshares’s payout ratio is 38.39%.

Prosperity Bancshares Profile

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Prosperity Bancshares, Inc is a holding company, which engages in the provision of financial products and solutions. It offers retail and commercial banking services such as deposits, online Internet banking, loan, investments, trust, and credit card to small and medium-sized businesses and consumers.