Natixis Advisors LLC Has $15.25 Million Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

Key Points

• Natixis Advisors LLC increased its stake in Prosperity Bancshares by 2.1% in the first quarter, owning approximately 0.22% of the company's shares valued at $15.25 million.
• Several large investors have modified their holdings, with Northern Trust Corp and Vaughan Nelson Investment Management both significantly increasing their stakes by over 25% in recent quarters.
• Prosperity Bancshares announced a quarterly dividend of $0.58, reflecting a dividend yield of 3.5%, with the ex-dividend date set for September 15th.

Natixis Advisors LLC boosted its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 213,689 shares of the bank's stock after purchasing an additional 4,391 shares during the quarter. Natixis Advisors LLC owned about 0.22% of Prosperity Bancshares worth $15,251,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd increased its stake in Prosperity Bancshares by 349.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock valued at $69,000 after acquiring an additional 713 shares during the last quarter. Quarry LP bought a new stake in shares of Prosperity Bancshares in the fourth quarter worth about $88,000. Fifth Third Bancorp boosted its holdings in Prosperity Bancshares by 44.9% in the first quarter. Fifth Third Bancorp now owns 1,277 shares of the bank's stock valued at $91,000 after acquiring an additional 396 shares in the last quarter. Chilton Capital Management LLC bought a new stake in Prosperity Bancshares in the first quarter valued at $105,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Prosperity Bancshares by 28.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,603 shares of the bank's stock valued at $121,000 after buying an additional 355 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Buying and Selling

In other news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $66.33, for a total value of $33,165.00. Following the transaction, the director directly owned 95,915 shares in the company, valued at $6,362,041.95. This trade represents a 0.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 13,700 shares of company stock worth $963,968. 4.20% of the stock is owned by corporate insiders.

Prosperity Bancshares Trading Down 1.1%

NYSE PB traded down $0.71 during mid-day trading on Thursday, reaching $65.35. 796,062 shares of the company's stock traded hands, compared to its average volume of 672,587. Prosperity Bancshares, Inc. has a 1-year low of $61.57 and a 1-year high of $86.75. The company has a fifty day simple moving average of $70.11 and a 200-day simple moving average of $71.59. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 0.99 and a beta of 0.71.

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

Prosperity Bancshares Announces Dividend

The firm also recently declared 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 is Monday, September 15th. This represents a $2.32 dividend on an annualized basis and a yield of 3.5%. Prosperity Bancshares's dividend payout ratio is 42.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PB shares. Piper Sandler cut their target price on shares of Prosperity Bancshares from $86.00 to $84.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Wall Street Zen upgraded Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Jefferies Financial Group started coverage on Prosperity Bancshares in a research report on Wednesday, May 21st. They issued a "buy" rating and a $85.00 price target for the company. Royal Bank Of Canada dropped their target price on shares of Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Finally, Hovde Group cut their target price on shares of Prosperity Bancshares from $85.00 to $83.00 and set an "outperform" rating on the stock in a research report on Thursday, July 24th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Prosperity Bancshares has a consensus rating of "Moderate Buy" and a consensus price target of $84.57.

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.