Albert D Mason Inc. lifted its position in Prosperity Bancshares, Inc. (NYSE:PB – Get Rating) by 22.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,809 shares of the bank's stock after acquiring an additional 2,556 shares during the quarter. Albert D Mason Inc.'s holdings in Prosperity Bancshares were worth $943,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Kwmg LLC grew its stake in shares of Prosperity Bancshares by 4.7% in the 2nd quarter. Kwmg LLC now owns 62,964 shares of the bank's stock worth $4,299,000 after acquiring an additional 2,839 shares in the last quarter. State of Alaska Department of Revenue grew its position in Prosperity Bancshares by 2.1% during the second quarter. State of Alaska Department of Revenue now owns 13,244 shares of the bank's stock valued at $904,000 after buying an additional 275 shares during the period. Bank of America Corp DE grew its position in Prosperity Bancshares by 0.9% during the first quarter. Bank of America Corp DE now owns 244,373 shares of the bank's stock valued at $16,955,000 after buying an additional 2,109 shares during the period. Walleye Capital LLC grew its position in Prosperity Bancshares by 17.5% during the first quarter. Walleye Capital LLC now owns 85,976 shares of the bank's stock valued at $5,965,000 after buying an additional 12,830 shares during the period. Finally, Advisory Services Network LLC grew its position in Prosperity Bancshares by 96.2% during the first quarter. Advisory Services Network LLC now owns 6,474 shares of the bank's stock valued at $449,000 after buying an additional 3,174 shares during the period. Institutional investors own 81.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PB. StockNews.com upgraded shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Wednesday, August 3rd. Truist Financial reduced their price target on shares of Prosperity Bancshares from $78.00 to $77.00 and set a "buy" rating for the company in a research report on Wednesday, June 15th. Wolfe Research cut their target price on shares of Prosperity Bancshares from $69.00 to $63.00 and set an "underperform" rating for the company in a research report on Thursday, May 26th. Finally, Piper Sandler cut their target price on shares of Prosperity Bancshares to $78.00 in a research report on Monday, July 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Prosperity Bancshares currently has an average rating of "Hold" and a consensus target price of $77.25.

Prosperity Bancshares Price Performance

Prosperity Bancshares (NYSE:PB – Get Rating) last issued its earnings results on Wednesday, July 27th. The bank reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.02. Prosperity Bancshares had a net margin of 43.50% and a return on equity of 7.85%. The firm had revenue of $286.10 million during the quarter, compared to analyst estimates of $285.39 million. During the same quarter last year, the business earned $1.41 earnings per share. The company's quarterly revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.77 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Wednesday, September 14th. Prosperity Bancshares's payout ratio is 37.82%.

Insider Transactions at Prosperity Bancshares

In other news, Director George A. Fisk sold 1,200 shares of the stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $69.50, for a total value of $83,400.00. Following the sale, the director now directly owns 93,611 shares of the company's stock, valued at $6,505,964.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.22% of the company's stock.

Prosperity Bancshares Profile

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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; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.

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