By otakuyassine3@gmail.com 
Atria Investments Inc acquired a new position in Prosperity Bancshares, Inc. (NYSE:PB – Free Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 2,990 shares of the bank’s stock, valued at approximately $225,000.
Several other institutional investors have also recently made changes to their positions in the business. Prospector Partners LLC boosted its holdings in shares of Prosperity Bancshares by 24.6% during the 3rd quarter. Prospector Partners LLC now owns 228,992 shares of the bank’s stock valued at $16,503,000 after purchasing an additional 45,177 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Prosperity Bancshares by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 818,744 shares of the bank’s stock valued at $59,007,000 after buying an additional 6,972 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Prosperity Bancshares during the 3rd quarter valued at approximately $372,000. Jane Street Group LLC increased its stake in Prosperity Bancshares by 418.0% in the 3rd quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock worth $8,039,000 after acquiring an additional 90,015 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in Prosperity Bancshares by 4.3% in the 3rd quarter. Stifel Financial Corp now owns 113,293 shares of the bank’s stock worth $8,165,000 after acquiring an additional 4,677 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.
Prosperity Bancshares Price Performance
PB stock opened at $70.49 on Wednesday. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76. The business has a 50-day moving average price of $76.64 and a 200 day moving average price of $76.25. The company has a market capitalization of $6.72 billion, a P/E ratio of 13.93, a PEG ratio of 0.94 and a beta of 0.94.
Prosperity Bancshares (NYSE:PB – Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. On average, analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.
Prosperity Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s payout ratio is 45.85%.
Insider Buying and Selling
In related news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $75.25, for a total transaction of $37,625.00. Following the completion of the transaction, the director now owns 109,815 shares in the company, valued at $8,263,578.75. The trade was a 0.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 5,000 shares of company stock worth $382,665 in the last three months. 4.28% of the stock is owned by insiders.
Wall Street Analyst Weigh In
PB has been the subject of a number of research reports. Barclays increased their target price on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Wolfe Research reiterated a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Morgan Stanley reduced their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. UBS Group cut their target price on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th. Finally, Bank of America upgraded Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.50.
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.
See Also
Want to see what other hedge funds are holding PB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prosperity Bancshares, Inc. (NYSE:PB – Free Report).
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