Amarillo National Bank Lowers Position in Prosperity Bancshares, Inc. (NYSE:PB)

Amarillo National Bank lowered its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 42.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 80,828 shares of the bank's stock after selling 58,529 shares during the period. Prosperity Bancshares comprises about 1.1% of Amarillo National Bank's portfolio, making the stock its 19th largest holding. Amarillo National Bank owned 0.08% of Prosperity Bancshares worth $5,825,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PB. GAMMA Investing LLC boosted its holdings in Prosperity Bancshares by 59.6% during the second quarter. GAMMA Investing LLC now owns 474 shares of the bank's stock worth $29,000 after buying an additional 177 shares in the last quarter. Tectonic Advisors LLC raised its position in shares of Prosperity Bancshares by 3.0% in the third quarter. Tectonic Advisors LLC now owns 7,058 shares of the bank's stock worth $509,000 after acquiring an additional 206 shares during the period. GHP Investment Advisors Inc. boosted its stake in shares of Prosperity Bancshares by 1.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 17,967 shares of the bank's stock worth $1,295,000 after acquiring an additional 228 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Prosperity Bancshares by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 117,692 shares of the bank's stock valued at $7,742,000 after acquiring an additional 319 shares during the period. Finally, Inspire Investing LLC increased its stake in shares of Prosperity Bancshares by 6.1% in the 2nd quarter. Inspire Investing LLC now owns 5,739 shares of the bank's stock valued at $351,000 after purchasing an additional 328 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PB shares. Wedbush reiterated an "outperform" rating and set a $90.00 price target on shares of Prosperity Bancshares in a research report on Thursday. Piper Sandler lifted their price target on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, July 25th. Truist Financial cut shares of Prosperity Bancshares from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $81.00 to $79.00 in a research report on Friday, September 20th. Barclays lifted their target price on shares of Prosperity Bancshares from $75.00 to $76.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, StockNews.com downgraded shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Prosperity Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $78.96.

Prosperity Bancshares Stock Down 1.7 %

Shares of Prosperity Bancshares stock traded down $1.27 on Friday, hitting $72.26. 532,957 shares of the company were exchanged, compared to its average volume of 572,250. The company has a 50-day moving average price of $72.21 and a 200 day moving average price of $66.70. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89. Prosperity Bancshares, Inc. has a 1-year low of $52.49 and a 1-year high of $75.28.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. The company had revenue of $459.00 million for the quarter, compared to analyst estimates of $299.83 million. During the same quarter in the previous year, the company posted $1.20 earnings per share. Research analysts forecast that Prosperity Bancshares, Inc. will post 5.03 EPS for the current year.

Prosperity Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.58 per share. This is a boost from Prosperity Bancshares's previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, December 13th. Prosperity Bancshares's dividend payout ratio (DPR) is presently 53.46%.

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.