UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $25.10 Million Stake in Prosperity Bancshares, Inc. (NYSE:PB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 348,200 shares of the bank's stock after selling 21,434 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.37% of Prosperity Bancshares worth $25,095,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Prosperity Bancshares by 14.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,287,615 shares of the bank's stock valued at $262,141,000 after buying an additional 532,241 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Prosperity Bancshares by 3.0% in the 2nd quarter. Victory Capital Management Inc. now owns 6,359,165 shares of the bank's stock valued at $388,799,000 after acquiring an additional 184,453 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Prosperity Bancshares by 16.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 811,772 shares of the bank's stock valued at $49,632,000 after acquiring an additional 112,101 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Prosperity Bancshares by 52.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 223,612 shares of the bank's stock worth $13,672,000 after purchasing an additional 77,039 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Prosperity Bancshares by 11.9% in the second quarter. AQR Capital Management LLC now owns 673,198 shares of the bank's stock worth $40,883,000 after purchasing an additional 71,694 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

PB has been the topic of a number of research reports. Barclays increased their target price on shares of Prosperity Bancshares from $76.00 to $84.00 and gave the stock an "equal weight" rating in a report on Thursday. Hovde Group raised their target price on shares of Prosperity Bancshares from $80.50 to $82.50 and gave the stock an "outperform" rating in a report on Monday, August 26th. Raymond James downgraded Prosperity Bancshares from a "strong-buy" rating to an "outperform" rating and set a $80.00 target price for the company. in a research note on Tuesday, September 17th. Truist Financial cut Prosperity Bancshares from a "buy" rating to a "hold" rating and dropped their price target for the stock from $81.00 to $79.00 in a research report on Friday, September 20th. Finally, Wedbush restated an "outperform" rating and set a $90.00 price objective on shares of Prosperity Bancshares in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $80.68.

Prosperity Bancshares Price Performance

Shares of PB traded down $0.24 during trading hours on Friday, reaching $81.93. 271,848 shares of the company's stock traded hands, compared to its average volume of 565,074. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.75. The business's fifty day simple moving average is $77.11 and its two-hundred day simple moving average is $70.39. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.24 and a beta of 0.92.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its earnings results on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $459.00 million for the quarter, compared to analysts' expectations of $299.83 million. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. During the same quarter last year, the company earned $1.20 EPS. On average, equities research analysts expect that Prosperity Bancshares, Inc. will post 5.05 EPS for the current year.

Prosperity Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.83%. This is an increase from Prosperity Bancshares's previous quarterly dividend of $0.56. The ex-dividend date is Friday, December 13th. Prosperity Bancshares's dividend payout ratio is 49.26%.

Insider Buying and Selling at Prosperity Bancshares

In other Prosperity Bancshares news, Chairman H E. Timanus, Jr. sold 4,000 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $86.50, for a total value of $346,000.00. Following the transaction, the chairman now owns 229,953 shares of the company's stock, valued at approximately $19,890,934.50. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ned S. Holmes sold 500 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.96, for a total value of $41,980.00. Following the sale, the director now owns 114,315 shares of the company's stock, valued at $9,597,887.40. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,100 shares of company stock valued at $604,114. 4.28% of the stock is owned by corporate insiders.

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.