16,517 Shares in Prosperity Bancshares, Inc. (NYSE:PB) Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 16,517 shares of the bank's stock, valued at approximately $1,119,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. National Bank of Canada FI bought a new position in shares of Prosperity Bancshares during the 3rd quarter valued at approximately $1,345,000. SG Americas Securities LLC boosted its position in shares of Prosperity Bancshares by 36.9% during the 3rd quarter. SG Americas Securities LLC now owns 30,845 shares of the bank's stock valued at $1,684,000 after acquiring an additional 8,320 shares during the last quarter. Impact Partnership Wealth LLC bought a new position in shares of Prosperity Bancshares during the 3rd quarter valued at approximately $151,000. 1900 Wealth Management LLC bought a new stake in Prosperity Bancshares in the third quarter worth $850,000. Finally, Sather Financial Group Inc lifted its position in Prosperity Bancshares by 198.2% in the third quarter. Sather Financial Group Inc now owns 17,527 shares of the bank's stock worth $957,000 after buying an additional 11,649 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Prosperity Bancshares Stock Performance

PB traded up $0.80 on Tuesday, hitting $62.70. The company had a trading volume of 521,404 shares, compared to its average volume of 562,114. The stock has a fifty day moving average price of $62.54 and a 200-day moving average price of $61.53. Prosperity Bancshares, Inc. has a 12-month low of $49.60 and a 12-month high of $68.88. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.23 and a beta of 0.93.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its earnings results on Wednesday, January 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $413.00 million for the quarter, compared to analyst estimates of $279.34 million. Prosperity Bancshares had a return on equity of 6.62% and a net margin of 26.24%. During the same quarter in the previous year, the firm earned $1.51 earnings per share. Analysts forecast that Prosperity Bancshares, Inc. will post 4.96 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.57%. The ex-dividend date is Friday, June 14th. Prosperity Bancshares's dividend payout ratio is presently 49.45%.

Analyst Ratings Changes

PB has been the subject of a number of analyst reports. Morgan Stanley upgraded Prosperity Bancshares from an "underweight" rating to an "equal weight" rating and set a $69.00 price target for the company in a research report on Wednesday, February 7th. Truist Financial reiterated a "buy" rating and set a $75.00 target price on shares of Prosperity Bancshares in a research report on Monday, April 1st. Barclays started coverage on Prosperity Bancshares in a research report on Friday, March 8th. They set an "equal weight" rating and a $68.00 target price for the company. Raymond James lifted their target price on Prosperity Bancshares from $65.00 to $80.00 and gave the stock a "strong-buy" rating in a research report on Friday, January 5th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 target price on shares of Prosperity Bancshares in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.79.

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.