Sargent Investment Group LLC Has $242,000 Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Sargent Investment Group LLC decreased its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 9.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,960 shares of the bank’s stock after selling 400 shares during the quarter. Sargent Investment Group LLC’s holdings in Prosperity Bancshares were worth $242,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Prosperity Bancshares by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock valued at $29,000 after buying an additional 177 shares during the period. Albert D Mason Inc. lifted its holdings in Prosperity Bancshares by 1.3% during the first quarter. Albert D Mason Inc. now owns 19,398 shares of the bank’s stock worth $1,276,000 after acquiring an additional 252 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Prosperity Bancshares by 31.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,118 shares of the bank’s stock valued at $76,000 after acquiring an additional 270 shares during the period. New York State Teachers Retirement System increased its holdings in shares of Prosperity Bancshares by 0.3% in the first quarter. New York State Teachers Retirement System now owns 117,516 shares of the bank’s stock worth $7,730,000 after acquiring an additional 300 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of Prosperity Bancshares by 0.3% in the first quarter. Retirement Systems of Alabama now owns 117,692 shares of the bank’s stock worth $7,742,000 after acquiring an additional 319 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stephens upgraded Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 26th. Wedbush raised their price objective on shares of Prosperity Bancshares from $63.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Piper Sandler boosted their price objective on shares of 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 report on Wednesday, August 28th. Finally, Royal Bank of Canada lifted their price target on Prosperity Bancshares from $70.00 to $74.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.04.

Prosperity Bancshares Stock Performance

PB opened at $72.97 on Wednesday. The business’s 50-day simple moving average is $70.46 and its 200 day simple moving average is $64.85. Prosperity Bancshares, Inc. has a 52-week low of $49.60 and a 52-week high of $74.68. The firm has a market capitalization of $6.95 billion, a PE ratio of 16.81, a PEG ratio of 1.47 and a beta of 0.90.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.02. The firm had revenue of $458.95 million for the quarter, compared to analyst estimates of $290.06 million. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. During the same quarter in the previous year, the firm earned $1.21 EPS. On average, research analysts forecast that Prosperity Bancshares, Inc. will post 5.07 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, September 13th. Prosperity Bancshares’s dividend payout ratio is currently 51.61%.

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.