Ieq Capital LLC Takes $381,000 Position in Prosperity Bancshares, Inc. (NYSE:PB)

Ieq Capital LLC bought a new position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,059 shares of the bank's stock, valued at approximately $381,000.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank's stock worth $45,000 after purchasing an additional 300 shares during the period. First Horizon Advisors Inc. raised its holdings in Prosperity Bancshares by 190.0% in the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank's stock worth $59,000 after purchasing an additional 534 shares during the period. Blue Trust Inc. raised its holdings in Prosperity Bancshares by 181.6% in the third quarter. Blue Trust Inc. now owns 859 shares of the bank's stock worth $62,000 after purchasing an additional 554 shares during the period. GAMMA Investing LLC raised its holdings in Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock worth $64,000 after purchasing an additional 143 shares during the period. Finally, Sunbelt Securities Inc. raised its holdings in Prosperity Bancshares by 31.0% in the third quarter. Sunbelt Securities Inc. now owns 981 shares of the bank's stock worth $71,000 after purchasing an additional 232 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PB shares. Wolfe Research restated a "peer perform" rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Barclays raised their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Friday, December 20th. Stephens raised their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. StockNews.com upgraded shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Finally, Bank of America upgraded shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.88.

Prosperity Bancshares Price Performance

PB stock traded up $0.02 during midday trading on Friday, hitting $76.73. The company's stock had a trading volume of 750,959 shares, compared to its average volume of 505,173. The company's fifty day moving average price is $77.45 and its 200 day moving average price is $76.21. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.75. The stock has a market capitalization of $7.31 billion, a P/E ratio of 15.16, a PEG ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. Equities analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares's dividend payout ratio (DPR) is presently 45.85%.

Insider Activity

In related news, Director Harrison Stafford II sold 4,000 shares of Prosperity Bancshares stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the sale, the director now owns 107,137 shares of the company's stock, valued at approximately $8,578,459.59. The trade was a 3.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $82.17, for a total transaction of $41,085.00. Following the sale, the director now directly owns 111,315 shares of the company's stock, valued at $9,146,753.55. The trade was a 0.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,500 shares of company stock valued at $752,665 in the last quarter. Company insiders own 4.28% of the company's stock.

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.