Amica Mutual Insurance Co. Cuts Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

Amica Mutual Insurance Co. lowered its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 10.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,366 shares of the bank's stock after selling 16,404 shares during the period. Prosperity Bancshares makes up 1.1% of Amica Mutual Insurance Co.'s holdings, making the stock its 20th biggest holding. Amica Mutual Insurance Co. owned approximately 0.15% of Prosperity Bancshares worth $10,652,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in Prosperity Bancshares by 10.5% in the fourth quarter. JPMorgan Chase & Co. now owns 273,936 shares of the bank's stock valued at $20,641,000 after acquiring an additional 26,122 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Prosperity Bancshares by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 9,780,006 shares of the bank's stock valued at $736,923,000 after purchasing an additional 44,567 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Prosperity Bancshares during the fourth quarter worth $235,000. KLP Kapitalforvaltning AS purchased a new position in Prosperity Bancshares in the fourth quarter valued at $1,471,000. Finally, American Century Companies Inc. raised its stake in Prosperity Bancshares by 0.8% in the fourth quarter. American Century Companies Inc. now owns 31,013 shares of the bank's stock valued at $2,337,000 after buying an additional 255 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

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Prosperity Bancshares Price Performance

Shares of PB stock traded up $0.14 during midday trading on Monday, reaching $70.66. 55,513 shares of the company traded hands, compared to its average volume of 560,814. The firm has a market cap of $6.73 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. The firm's 50 day simple moving average is $75.83 and its two-hundred day simple moving average is $76.17. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.75.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its earnings results on Wednesday, January 29th. The bank reported $1.37 EPS 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, research 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares's dividend payout ratio (DPR) is presently 45.85%.

Insiders Place Their Bets

In related news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $75.25, for a total value of $37,625.00. Following the transaction, the director now owns 109,815 shares in the company, valued at approximately $8,263,578.75. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 5,500 shares of company stock valued at $416,135 in the last quarter. 4.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wolfe Research reiterated a "peer perform" rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. 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. Morgan Stanley decreased their target price on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Stephens upped their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Barclays increased their target price on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Prosperity Bancshares has an average rating of "Hold" and a consensus price target of $83.50.

Prosperity Bancshares 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.