Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 25.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 263,154 shares of the bank's stock after selling 90,398 shares during the quarter. Fisher Asset Management LLC owned approximately 0.28% of Prosperity Bancshares worth $17,823,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PB. Spire Wealth Management lifted its stake in shares of Prosperity Bancshares by 17.7% during the third quarter. Spire Wealth Management now owns 1,290 shares of the bank's stock worth $70,000 after buying an additional 194 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of Prosperity Bancshares by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 38,250 shares of the bank's stock worth $2,088,000 after buying an additional 200 shares during the period. Covestor Ltd raised its holdings in shares of Prosperity Bancshares by 12.3% during the third quarter. Covestor Ltd now owns 2,231 shares of the bank's stock worth $122,000 after purchasing an additional 244 shares during the last quarter. CFO4Life Group LLC raised its holdings in shares of Prosperity Bancshares by 0.9% during the third quarter. CFO4Life Group LLC now owns 30,095 shares of the bank's stock worth $1,643,000 after purchasing an additional 280 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Prosperity Bancshares by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 117,373 shares of the bank's stock worth $7,950,000 after purchasing an additional 351 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PB. Truist Financial reissued a "buy" rating and set a $75.00 target price on shares of Prosperity Bancshares in a report on Monday, April 1st. Royal Bank of Canada reissued a "sector perform" rating and set a $70.00 target price on shares of Prosperity Bancshares in a report on Tuesday, April 9th. Morgan Stanley raised shares of Prosperity Bancshares from an "underweight" rating to an "equal weight" rating and set a $69.00 price objective for the company in a report on Wednesday, February 7th. Finally, Barclays began coverage on shares of Prosperity Bancshares in a report on Friday, March 8th. They issued an "equal weight" rating and a $68.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $68.86.

Prosperity Bancshares Stock Performance

Shares of PB stock traded up $0.27 on Monday, reaching $63.34. 369,072 shares of the company were exchanged, compared to its average volume of 566,243. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 1.26 and a beta of 0.93. The business has a 50-day moving average price of $62.56 and a 200 day moving average price of $62.25. Prosperity Bancshares, Inc. has a 1 year low of $49.60 and a 1 year high of $68.88.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its earnings results on Wednesday, April 24th. The bank reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.03. The business had revenue of $420.78 million during the quarter, compared to analysts' expectations of $274.88 million. Prosperity Bancshares had a net margin of 24.50% and a return on equity of 6.33%. During the same quarter in the previous year, the company earned $1.37 earnings per share. As a group, equities analysts anticipate that Prosperity Bancshares, Inc. will post 4.99 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.24 dividend on an annualized basis and a yield of 3.54%. Prosperity Bancshares's payout ratio is presently 51.61%.

About Prosperity Bancshares

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.