Amarillo National Bank Sells 10,782 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Amarillo National Bank lowered its position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,046 shares of the bank's stock after selling 10,782 shares during the quarter. Prosperity Bancshares makes up about 1.0% of Amarillo National Bank's investment portfolio, making the stock its 21st largest position. Amarillo National Bank owned approximately 0.07% of Prosperity Bancshares worth $5,278,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. UMB Bank n.a. increased 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 last quarter. First Horizon Advisors Inc. increased its position in shares of Prosperity Bancshares by 190.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank's stock valued at $59,000 after buying an additional 534 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Prosperity Bancshares by 20.4% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock worth $64,000 after acquiring an additional 143 shares in the last quarter. Blue Trust Inc. grew its stake in Prosperity Bancshares by 181.6% in the third quarter. Blue Trust Inc. now owns 859 shares of the bank's stock valued at $62,000 after acquiring an additional 554 shares during the period. Finally, Sunbelt Securities Inc. increased its stake in Prosperity Bancshares by 31.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 981 shares of the bank's stock worth $71,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Buying and Selling at Prosperity Bancshares

In other Prosperity Bancshares news, Director Harrison Stafford II sold 4,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $80.07, for a total value of $320,280.00. Following the completion of the sale, the director now owns 107,137 shares in the company, valued at approximately $8,578,459.59. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $78.30, for a total value of $39,150.00. Following the completion of the transaction, the director now owns 106,815 shares in the company, valued at $8,363,614.50. The trade was a 0.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,100 shares of company stock worth $1,232,559. Insiders own 4.28% of the company's stock.

Analyst Ratings Changes

PB has been the topic of several research reports. Wolfe Research reaffirmed a "peer perform" rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Barclays lifted their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Friday, December 20th. Wedbush restated an "outperform" rating and set a $90.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. UBS Group lowered their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, December 26th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $77.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Prosperity Bancshares has a consensus rating of "Moderate Buy" and an average price target of $82.88.

Prosperity Bancshares Stock Performance

Shares of PB stock traded down $0.54 during trading hours on Wednesday, hitting $78.09. 377,157 shares of the company were exchanged, compared to its average volume of 509,996. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.75. The company has a 50 day simple moving average of $77.60 and a two-hundred day simple moving average of $75.88. The firm has a market cap of $7.44 billion, a P/E ratio of 15.43, a P/E/G ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. As a group, sell-side analysts expect that Prosperity Bancshares, Inc. will post 5.82 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 2.97%. Prosperity Bancshares's payout ratio is 45.85%.

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.