Cwm LLC Has $6.23 Million Stock Holdings in Prosperity Bancshares, Inc. $PB

Key Points

• Cwm LLC boosted its stake in Prosperity Bancshares by 25.3% to 90,165 shares, worth about $6.23 million at the end of the fourth quarter.
• Wall Street consensus is a "Hold" with a $78.31 average target, after mixed analyst moves including downgrades and several reduced price targets.
• Prosperity posted a quarterly EPS of $1.46 (beating estimates by $0.01) with revenue down 5.9%, and pays a $0.60 quarterly dividend (annualized yield ~3.4%) with a market cap near $7.14 billion.

Cwm LLC boosted its position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 25.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,165 shares of the bank's stock after acquiring an additional 18,180 shares during the quarter. Cwm LLC owned 0.09% of Prosperity Bancshares worth $6,231,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in shares of Prosperity Bancshares by 570.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,273 shares of the bank's stock valued at $88,000 after purchasing an additional 1,083 shares in the last quarter. Tectonic Advisors LLC increased its stake in shares of Prosperity Bancshares by 3.9% in the 4th quarter. Tectonic Advisors LLC now owns 10,223 shares of the bank's stock valued at $706,000 after purchasing an additional 385 shares during the last quarter. Choreo LLC raised its holdings in shares of Prosperity Bancshares by 7.6% during the 4th quarter. Choreo LLC now owns 3,386 shares of the bank's stock worth $239,000 after buying an additional 238 shares in the last quarter. Ritholtz Wealth Management acquired a new position in shares of Prosperity Bancshares during the 4th quarter worth $287,000. Finally, Jackson Thornton Wealth Management LLC bought a new stake in shares of Prosperity Bancshares during the 4th quarter worth $304,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PB has been the topic of several research analyst reports. Barclays lowered Prosperity Bancshares from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $75.00 to $68.00 in a research note on Monday, February 2nd. Raymond James Financial cut shares of Prosperity Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 7th. DA Davidson restated a "neutral" rating and issued a $76.00 price target on shares of Prosperity Bancshares in a research note on Thursday, January 29th. Morgan Stanley decreased their price target on shares of Prosperity Bancshares from $91.00 to $83.00 and set an "overweight" rating on the stock in a report on Tuesday, March 31st. Finally, TD Cowen reiterated a "buy" rating on shares of Prosperity Bancshares in a research report on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $78.31.

Insider Transactions at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 600 shares of the company's stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $74.29, for a total transaction of $44,574.00. Following the sale, the director owned 42,200 shares of the company's stock, valued at approximately $3,135,038. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 13,200 shares of company stock valued at $916,328 in the last quarter. 3.96% of the stock is owned by insiders.

Prosperity Bancshares Trading Up 0.4%

Shares of PB stock opened at $70.30 on Tuesday. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.12 and a beta of 0.66. The business's 50-day moving average price is $68.87 and its 200-day moving average price is $68.84. Prosperity Bancshares, Inc. has a 12 month low of $61.06 and a 12 month high of $77.20.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The bank reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.01. Prosperity Bancshares had a net margin of 31.22% and a return on equity of 7.11%. The company had revenue of $317.73 million for the quarter, compared to analyst estimates of $319.30 million. During the same quarter in the previous year, the business earned $1.37 earnings per share. Prosperity Bancshares's revenue was down 5.9% compared to the same quarter last year. On average, sell-side analysts predict that Prosperity Bancshares, Inc. will post 6.19 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, March 13th. Prosperity Bancshares's dividend payout ratio (DPR) is currently 41.88%.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.

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