4,772 Shares in Prosperity Bancshares, Inc. $PB Purchased by Caxton Associates LLP

Key Points

• Caxton Associates LLP acquired 4,772 shares of Prosperity Bancshares, Inc., valued at approximately $341,000, during the first quarter.
• Prosperity Bancshares announced a quarterly dividend of $0.58 per share, representing a yield of 3.4%, to be paid on October 1st to investors of record.
• A number of analysts assigned ratings for Prosperity Bancshares, with a consensus price target of $83.75 and the stock holding an average rating of "Moderate Buy."

Caxton Associates LLP acquired a new position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,772 shares of the bank's stock, valued at approximately $341,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Prosperity Bancshares during the 1st quarter valued at about $48,000. Fifth Third Bancorp lifted its holdings in Prosperity Bancshares by 44.9% during the 1st quarter. Fifth Third Bancorp now owns 1,277 shares of the bank's stock valued at $91,000 after buying an additional 396 shares in the last quarter. Quarry LP lifted its holdings in Prosperity Bancshares by 16.7% during the 1st quarter. Quarry LP now owns 1,366 shares of the bank's stock valued at $97,000 after buying an additional 195 shares in the last quarter. Chilton Capital Management LLC bought a new stake in Prosperity Bancshares during the 1st quarter valued at about $105,000. Finally, State of Wyoming lifted its holdings in Prosperity Bancshares by 13.8% during the 1st quarter. State of Wyoming now owns 2,565 shares of the bank's stock valued at $183,000 after buying an additional 311 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $67.19, for a total transaction of $33,595.00. Following the sale, the director owned 93,415 shares of the company's stock, valued at $6,276,553.85. This trade represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 15,400 shares of company stock worth $1,069,500 over the last 90 days. 4.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Prosperity Bancshares in a report on Wednesday. They set an "overweight" rating and a $78.00 price objective for the company. Hovde Group decreased their price objective on shares of Prosperity Bancshares from $85.00 to $83.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. Piper Sandler decreased their price objective on shares of Prosperity Bancshares from $86.00 to $84.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Jefferies Financial Group began coverage on shares of Prosperity Bancshares in a research note on Wednesday, May 21st. They issued a "buy" rating and a $85.00 price objective for the company. Finally, Citigroup raised their target price on shares of Prosperity Bancshares from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.75.

Prosperity Bancshares Stock Performance

NYSE PB opened at $67.79 on Friday. Prosperity Bancshares, Inc. has a one year low of $61.57 and a one year high of $86.75. The company's 50-day simple moving average is $69.12 and its two-hundred day simple moving average is $69.58. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.01 and a beta of 0.74.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. Prosperity Bancshares had a return on equity of 6.99% and a net margin of 29.37%.The company had revenue of $310.70 million for the quarter, compared to the consensus estimate of $315.66 million. During the same quarter last year, the company earned $1.22 earnings per share. Equities analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.32 dividend on an annualized basis and a yield of 3.4%. Prosperity Bancshares's dividend payout ratio (DPR) is presently 42.18%.

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.

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