Prosperity Bancshares, Inc. (NYSE:PB) Short Interest Update

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totalling 1,650,000 shares, a decline of 28.3% from the September 15th total of 2,300,000 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average daily volume of 600,500 shares, the short-interest ratio is presently 2.7 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Prosperity Bancshares by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,693,076 shares of the bank's stock worth $656,512,000 after buying an additional 53,844 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Prosperity Bancshares by 3.0% during the 2nd quarter. Victory Capital Management Inc. now owns 6,359,165 shares of the bank's stock worth $388,799,000 after buying an additional 184,453 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Prosperity Bancshares by 14.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,287,615 shares of the bank's stock worth $262,141,000 after buying an additional 532,241 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Prosperity Bancshares by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 935,420 shares of the bank's stock worth $57,192,000 after buying an additional 19,224 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Prosperity Bancshares by 11.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 884,734 shares of the bank's stock worth $59,923,000 after buying an additional 89,617 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Prosperity Bancshares Price Performance

PB traded up $1.77 during trading on Friday, hitting $72.63. The company's stock had a trading volume of 389,675 shares, compared to its average volume of 565,570. The firm's 50 day moving average price is $71.60 and its 200-day moving average price is $66.03. The stock has a market cap of $6.92 billion, a PE ratio of 15.89, a PEG ratio of 1.49 and a beta of 0.89. Prosperity Bancshares has a twelve month low of $49.60 and a twelve month high of $74.87.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.02. The company had revenue of $458.95 million during the quarter, compared to the consensus estimate of $290.06 million. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. During the same period in the previous year, the firm posted $1.21 EPS. Equities analysts anticipate that Prosperity Bancshares will post 5.03 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.56 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.24 annualized dividend and a yield of 3.08%. Prosperity Bancshares's dividend payout ratio (DPR) is presently 49.02%.

Wall Street Analysts Forecast Growth

PB has been the topic of several recent research reports. Compass Point boosted their price target on Prosperity Bancshares from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Hovde Group boosted their price target on Prosperity Bancshares from $80.50 to $82.50 and gave the company an "outperform" rating in a research report on Monday, August 26th. Piper Sandler boosted their price target on Prosperity Bancshares from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Thursday, July 25th. StockNews.com cut Prosperity Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, August 28th. Finally, Raymond James cut Prosperity Bancshares from a "strong-buy" rating to an "outperform" rating and set a $80.00 price target on the stock. in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, Prosperity Bancshares presently has a consensus rating of "Moderate Buy" and an average price target of $77.58.

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.