Victory Capital Management Inc. Has $401.55 Million Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Victory Capital Management Inc. boosted its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,928,697 shares of the bank’s stock after acquiring an additional 136,764 shares during the period. Victory Capital Management Inc. owned 0.06% of Prosperity Bancshares worth $401,551,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PB. Natixis Advisors L.P. boosted its position in shares of Prosperity Bancshares by 64.1% in the third quarter. Natixis Advisors L.P. now owns 44,415 shares of the bank’s stock valued at $2,424,000 after acquiring an additional 17,351 shares during the period. Amica Mutual Insurance Co. grew its position in Prosperity Bancshares by 417.5% in the 3rd quarter. Amica Mutual Insurance Co. now owns 30,583 shares of the bank’s stock worth $1,669,000 after purchasing an additional 24,673 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Prosperity Bancshares during the 3rd quarter worth about $213,000. Panagora Asset Management Inc. raised its position in shares of Prosperity Bancshares by 131.3% during the third quarter. Panagora Asset Management Inc. now owns 8,742 shares of the bank’s stock valued at $477,000 after buying an additional 4,963 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Prosperity Bancshares during the fourth quarter valued at about $46,306,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Price Performance

Shares of NYSE PB traded up $1.01 during midday trading on Wednesday, hitting $62.98. The stock had a trading volume of 113,160 shares, compared to its average volume of 566,014. The firm has a market cap of $5.89 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.25 and a beta of 0.93. Prosperity Bancshares, Inc. has a fifty-two week low of $49.60 and a fifty-two week high of $68.88. The company’s 50-day simple moving average is $62.55 and its 200 day simple moving average is $61.97.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. Prosperity Bancshares had a return on equity of 6.33% and a net margin of 24.50%. The firm had revenue of $420.78 million during the quarter, compared to analyst estimates of $274.88 million. During the same period last year, the company earned $1.37 earnings per share. Equities analysts expect that Prosperity Bancshares, Inc. will post 4.99 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Friday, June 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is 51.61%.

Analysts Set New Price Targets

PB has been the topic of a number of recent research reports. Raymond James lifted their target price on Prosperity Bancshares from $65.00 to $80.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. Barclays assumed coverage on Prosperity Bancshares in a research report on Friday, March 8th. They set an “equal weight” rating and a $68.00 price objective on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of Prosperity Bancshares in a research report on Tuesday, April 9th. Truist Financial reissued a “buy” rating and issued a $75.00 price target on shares of Prosperity Bancshares in a report on Monday, April 1st. Finally, Morgan Stanley raised shares of Prosperity Bancshares from an “underweight” rating to an “equal weight” rating and set a $69.00 price objective for the company in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prosperity Bancshares has a consensus rating of “Moderate Buy” and an average target price of $68.79.

Prosperity Bancshares Company 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.