Natixis Advisors L.P. Purchases 100,579 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Natixis Advisors L.P. lifted its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 226.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,994 shares of the bank's stock after purchasing an additional 100,579 shares during the quarter. Natixis Advisors L.P. owned 0.15% of Prosperity Bancshares worth $9,819,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in shares of Prosperity Bancshares by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 5,928,697 shares of the bank's stock worth $401,551,000 after buying an additional 136,764 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Prosperity Bancshares by 11.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,213,472 shares of the bank's stock worth $120,811,000 after purchasing an additional 227,725 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Prosperity Bancshares by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,050,650 shares of the bank's stock worth $57,344,000 after purchasing an additional 39,741 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Prosperity Bancshares in the 4th quarter valued at approximately $46,306,000. Finally, Private Management Group Inc. grew its stake in shares of Prosperity Bancshares by 14.8% in the third quarter. Private Management Group Inc. now owns 541,207 shares of the bank's stock valued at $29,539,000 after buying an additional 69,970 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

PB has been the subject of a number of recent analyst reports. Morgan Stanley upgraded shares of Prosperity Bancshares from an "underweight" rating to an "equal weight" rating and set a $69.00 price target for the company in a research note on Wednesday, February 7th. Truist Financial restated a "buy" rating and issued a $75.00 price objective on shares of Prosperity Bancshares in a research note 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. Finally, Barclays assumed coverage on Prosperity Bancshares in a report on Friday, March 8th. They set an "equal weight" rating and a $68.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Prosperity Bancshares currently has an average rating of "Hold" and an average target price of $68.86.

Prosperity Bancshares Stock Performance

Shares of PB stock traded up $0.24 on Thursday, hitting $63.49. The company's stock had a trading volume of 358,527 shares, compared to its average volume of 562,460. Prosperity Bancshares, Inc. has a fifty-two week low of $49.60 and a fifty-two week high of $68.88. The company has a market capitalization of $5.94 billion, a PE ratio of 14.63, a PEG ratio of 1.26 and a beta of 0.93. The stock's 50 day moving average is $62.62 and its 200-day moving average is $62.35.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its earnings results on Wednesday, April 24th. The bank reported $1.18 EPS for the quarter, topping the consensus estimate of $1.15 by $0.03. The company had revenue of $420.78 million for 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 period last year, the firm earned $1.37 earnings per share. On average, research analysts forecast that Prosperity Bancshares, Inc. will post 4.99 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Friday, June 14th. Prosperity Bancshares's dividend payout ratio (DPR) is currently 51.61%.

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.