Ceredex Value Advisors LLC Sells 31,100 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Ceredex Value Advisors LLC trimmed its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 186,646 shares of the bank's stock after selling 31,100 shares during the quarter. Ceredex Value Advisors LLC owned about 0.20% of Prosperity Bancshares worth $14,064,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PB. Blue Trust Inc. increased its holdings in Prosperity Bancshares by 14.9% in the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank's stock valued at $71,000 after buying an additional 128 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Prosperity Bancshares by 4.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,069 shares of the bank's stock worth $229,000 after acquiring an additional 128 shares during the period. GAMMA Investing LLC increased its stake in Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock valued at $64,000 after acquiring an additional 143 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Prosperity Bancshares by 3.8% in the fourth quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank's stock valued at $430,000 after acquiring an additional 194 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in Prosperity Bancshares by 23.9% during the fourth quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank's stock valued at $76,000 after purchasing an additional 195 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PB has been the topic of several recent analyst reports. Raymond James lifted their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. StockNews.com raised Prosperity Bancshares from a "sell" rating to a "hold" rating in a research note on Thursday, April 10th. Morgan Stanley reduced their price target on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Barclays lowered their price objective on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group decreased their target price 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. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.35.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $79.92, for a total transaction of $39,960.00. Following the completion of the sale, the director now owns 107,815 shares of the company's stock, valued at $8,616,574.80. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 5,500 shares of company stock valued at $402,415. 4.20% of the stock is currently owned by insiders.

Prosperity Bancshares Stock Up 1.8 %

Shares of NYSE PB traded up $1.21 during trading on Tuesday, reaching $66.74. The company had a trading volume of 207,791 shares, compared to its average volume of 593,619. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75. The stock has a market cap of $6.36 billion, a P/E ratio of 13.19, a PEG ratio of 0.94 and a beta of 0.82. The company's fifty day moving average price is $71.06 and its 200-day moving average price is $75.45.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share 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%. As a group, equities analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 3.48%. 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.