Prosperity Bancshares, Inc. (NYSE:PB) Stock Position Cut by Advisory Services Network LLC

Advisory Services Network LLC lessened its position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 44.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,224 shares of the bank's stock after selling 15,549 shares during the quarter. Advisory Services Network LLC's holdings in Prosperity Bancshares were worth $1,449,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in shares of Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock valued at $28,000 after purchasing an additional 312 shares during the period. Jones Financial Companies Lllp increased its position in shares of Prosperity Bancshares by 368.5% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock valued at $39,000 after acquiring an additional 409 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock valued at $45,000 after acquiring an additional 300 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Prosperity Bancshares by 20.4% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock worth $64,000 after acquiring an additional 143 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its position in shares of Prosperity Bancshares by 349.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after purchasing an additional 713 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Stock Up 0.2 %

Shares of PB traded up $0.10 on Friday, reaching $65.74. The stock had a trading volume of 467,668 shares, compared to its average volume of 567,295. The firm has a 50-day moving average of $71.59 and a 200 day moving average of $75.44. The firm has a market capitalization of $6.26 billion, a PE ratio of 12.99, a PEG ratio of 0.94 and a beta of 0.82. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.76.

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 (EPS) for the quarter, beating 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, sell-side analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.32 annualized dividend and a yield of 3.53%. Prosperity Bancshares's dividend payout ratio (DPR) is presently 45.85%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com upgraded Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, April 10th. Morgan Stanley decreased their price objective on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Barclays dropped their target price on Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Raymond James boosted their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Stephens boosted their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Prosperity Bancshares presently has an average rating of "Moderate Buy" and an average target price of $83.35.

Insiders Place Their Bets

In other news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $79.92, for a total transaction of $39,960.00. Following the sale, the director now owns 107,815 shares of the company's stock, valued at approximately $8,616,574.80. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 5,500 shares of company stock valued at $402,415 in the last ninety days. Corporate insiders own 4.20% 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.