Sivia Capital Partners LLC Invests $359,000 in Prosperity Bancshares, Inc. $PB

Key Points

• Sivia Capital Partners LLC invested $359,000 in Prosperity Bancshares, acquiring 5,107 shares during the 2nd quarter.
• The bank recently declared a quarterly dividend of $0.58, which equates to an annualized dividend of $2.32 and a yield of 3.5%.
• Prosperity Bancshares reported earnings per share (EPS) of $1.42 for the last quarter, exceeding analysts' expectations of $1.40.

Sivia Capital Partners LLC acquired a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,107 shares of the bank's stock, valued at approximately $359,000.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Prosperity Bancshares by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,688,304 shares of the bank's stock valued at $334,595,000 after acquiring an additional 102,044 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Prosperity Bancshares by 14.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,232,995 shares of the bank's stock worth $230,739,000 after purchasing an additional 412,283 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Prosperity Bancshares by 25.1% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,112,574 shares of the bank's stock valued at $79,404,000 after purchasing an additional 223,355 shares in the last quarter. AQR Capital Management LLC grew its stake in Prosperity Bancshares by 56.2% in the first quarter. AQR Capital Management LLC now owns 866,223 shares of the bank's stock valued at $61,008,000 after purchasing an additional 311,698 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Prosperity Bancshares in the first quarter valued at about $25,491,000. Institutional investors own 80.69% of the company's stock.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $65.84, for a total transaction of $32,920.00. Following the sale, the director directly owned 92,915 shares of the company's stock, valued at approximately $6,117,523.60. This trade represents a 0.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 15,400 shares of company stock valued at $1,067,419 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Prosperity Bancshares Stock Down 0.6%

Shares of NYSE:PB traded down $0.41 during trading on Monday, hitting $65.57. The stock had a trading volume of 913,464 shares, compared to its average volume of 1,098,693. Prosperity Bancshares, Inc. has a 12-month low of $61.57 and a 12-month high of $86.75. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 0.99 and a beta of 0.74. The stock has a 50-day simple moving average of $68.13 and a two-hundred day simple moving average of $69.13.

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

Prosperity Bancshares Announces Dividend

The firm also recently announced 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 payout ratio is currently 42.18%.

Analyst Ratings Changes

Several analysts have commented on PB shares. Piper Sandler decreased their price target 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. Hovde Group reduced their price objective on shares of Prosperity Bancshares from $85.00 to $83.00 and set an "outperform" rating for the company in a research note on Thursday, July 24th. Cantor Fitzgerald assumed coverage on shares of Prosperity Bancshares in a research note on Wednesday, September 10th. They issued an "overweight" rating and a $78.00 target price for the company. Finally, Citigroup reaffirmed a "neutral" rating and issued a $68.00 price target (down from $78.00) on shares of Prosperity Bancshares in a report on Monday, September 15th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $83.40.

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.