Hunter Perkins Capital Management LLC Buys 4,265 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Hunter Perkins Capital Management LLC increased its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 159,220 shares of the bank’s stock after purchasing an additional 4,265 shares during the quarter. Prosperity Bancshares makes up 2.3% of Hunter Perkins Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Hunter Perkins Capital Management LLC owned approximately 0.17% of Prosperity Bancshares worth $11,530,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Prosperity Bancshares by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock worth $29,000 after purchasing an additional 177 shares in the last quarter. Quarry LP lifted its position in Prosperity Bancshares by 533.3% during the 2nd quarter. Quarry LP now owns 494 shares of the bank’s stock worth $30,000 after buying an additional 416 shares in the last quarter. Quest Partners LLC lifted its position in shares of Prosperity Bancshares by 3,147.1% in the second quarter. Quest Partners LLC now owns 552 shares of the bank’s stock valued at $34,000 after buying an additional 535 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Prosperity Bancshares during the second quarter worth approximately $43,000. Finally, Headlands Technologies LLC acquired a new stake in Prosperity Bancshares during the second quarter worth about $46,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

PB has been the topic of several analyst reports. Piper Sandler boosted their price objective on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Truist Financial lowered 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 report on Friday, September 20th. Raymond James downgraded shares of Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price objective for the company. in a report on Tuesday, September 17th. Stephens raised Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 26th. Finally, Morgan Stanley raised Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $75.00 to $86.00 in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.27.

Prosperity Bancshares Stock Up 2.3 %

Prosperity Bancshares stock traded up $1.67 during midday trading on Wednesday, reaching $74.60. 99,237 shares of the stock traded hands, compared to its average volume of 562,751. The stock’s fifty day moving average is $71.66 and its 200-day moving average is $66.09. Prosperity Bancshares, Inc. has a 12 month low of $49.60 and a 12 month high of $74.91. The stock has a market cap of $7.16 billion, a P/E ratio of 17.18, a PEG ratio of 1.49 and a beta of 0.89.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, July 24th. The bank reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $458.95 million during 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 period in the previous year, the company posted $1.21 EPS. On average, equities analysts predict that Prosperity Bancshares, Inc. will post 5.03 EPS for the current fiscal year.

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.