Universal Beteiligungs und Servicegesellschaft mbH Invests $2.13 Million in Prosperity Bancshares, Inc. (NYSE:PB)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 29,794 shares of the bank's stock, valued at approximately $2,126,000.

Several other hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Prosperity Bancshares by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,586,260 shares of the bank's stock worth $345,575,000 after purchasing an additional 48,304 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Prosperity Bancshares by 1.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,342,047 shares of the bank's stock worth $176,473,000 after purchasing an additional 32,917 shares during the last quarter. Snyder Capital Management L P boosted its holdings in Prosperity Bancshares by 7.3% in the fourth quarter. Snyder Capital Management L P now owns 1,220,977 shares of the bank's stock valued at $92,001,000 after acquiring an additional 83,488 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Prosperity Bancshares by 25.1% in 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 acquiring an additional 223,355 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Prosperity Bancshares by 25.5% in the fourth quarter. Northern Trust Corp now owns 937,108 shares of the bank's stock valued at $70,611,000 after acquiring an additional 190,449 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Prosperity Bancshares Stock Performance

Shares of NYSE PB traded down $0.72 during midday trading on Friday, reaching $65.90. 1,225,944 shares of the company's stock were exchanged, compared to its average volume of 789,063. Prosperity Bancshares, Inc. has a 52-week low of $61.57 and a 52-week high of $86.75. The stock has a market capitalization of $6.28 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.99 and a beta of 0.71. The business's fifty day moving average price is $70.33 and its two-hundred day moving average price is $71.80.

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

Prosperity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, September 15th. Prosperity Bancshares's payout ratio is presently 42.18%.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Ned S. Holmes sold 600 shares of Prosperity Bancshares stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $70.89, for a total value of $42,534.00. Following the completion of the transaction, the director directly owned 45,700 shares in the company, valued at $3,239,673. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 13,100 shares of company stock valued at $925,889 in the last three months. Insiders own 4.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PB. Piper Sandler reduced their target price on Prosperity Bancshares from $86.00 to $84.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Jefferies Financial Group began coverage on Prosperity Bancshares in a report on Wednesday, May 21st. They issued a "buy" rating and a $85.00 target price on the stock. Royal Bank Of Canada reduced their target price on Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their target price on Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Finally, Hovde Group cut their price objective on 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.