Nisa Investment Advisors LLC Has $468,000 Stock Position in Prosperity Bancshares, Inc. $PB

Nisa Investment Advisors LLC reduced its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 52.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,992 shares of the bank’s stock after selling 7,600 shares during the period. Nisa Investment Advisors LLC’s holdings in Prosperity Bancshares were worth $468,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PB. Boston Partners increased its holdings in Prosperity Bancshares by 68.9% during the 2nd quarter. Boston Partners now owns 554,502 shares of the bank’s stock valued at $38,945,000 after purchasing an additional 226,232 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Prosperity Bancshares in the second quarter worth $572,000. Praxis Investment Management Inc. bought a new stake in shares of Prosperity Bancshares during the second quarter worth $298,000. Angel Oak Capital Advisors LLC grew its holdings in shares of Prosperity Bancshares by 39.0% during the second quarter. Angel Oak Capital Advisors LLC now owns 13,900 shares of the bank’s stock worth $976,000 after purchasing an additional 3,900 shares during the last quarter. Finally, XTX Topco Ltd increased its stake in shares of Prosperity Bancshares by 623.5% in the second quarter. XTX Topco Ltd now owns 33,173 shares of the bank’s stock valued at $2,330,000 after buying an additional 28,588 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on PB. Raymond James Financial downgraded shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. TD Cowen boosted their target price on shares of Prosperity Bancshares from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Stephens upped their target price on shares of Prosperity Bancshares from $77.00 to $81.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Cowen reissued a “buy” rating on shares of Prosperity Bancshares in a research note on Wednesday, January 7th. Finally, Hovde Group cut shares of Prosperity Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 26th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Prosperity Bancshares presently has an average rating of “Moderate Buy” and an average price target of $80.75.

Prosperity Bancshares Trading Down 1.0%

Shares of NYSE PB opened at $72.42 on Friday. Prosperity Bancshares, Inc. has a 1 year low of $61.06 and a 1 year high of $82.75. The firm’s 50-day moving average is $69.94 and its 200-day moving average is $68.44. The firm has a market capitalization of $6.88 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 0.96 and a beta of 0.68.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, October 29th. The bank reported $1.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.45. Prosperity Bancshares had a net margin of 30.28% and a return on equity of 7.06%. The business had revenue of $314.67 million during the quarter, compared to the consensus estimate of $317.94 million. During the same period in the previous year, the firm posted $1.34 earnings per share. Prosperity Bancshares’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, December 15th. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.58. Prosperity Bancshares’s dividend payout ratio is presently 42.78%.

Insider Activity

In related news, Director Harrison Stafford II sold 800 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $70.76, for a total value of $56,608.00. Following the completion of the sale, the director owned 107,937 shares in the company, valued at approximately $7,637,622.12. This represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ned S. Holmes sold 600 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $63.43, for a total value of $38,058.00. Following the transaction, the director owned 43,500 shares in the company, valued at approximately $2,759,205. This trade represents a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,150 shares of company stock valued at $1,115,794 in the last 90 days. 4.20% of the stock is owned by company insiders.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.