Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC decreased its stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 82.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,890 shares of the bank's stock after selling 115,384 shares during the quarter. Guggenheim Capital LLC's holdings in Prosperity Bancshares were worth $1,800,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised 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 worth $28,000 after buying an additional 312 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Prosperity Bancshares by 368.5% in the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after purchasing an additional 409 shares during the last quarter. UMB Bank n.a. increased its stake in Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock worth $45,000 after buying an additional 300 shares during the period. GAMMA Investing LLC lifted its holdings in Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock valued at $64,000 after buying an additional 143 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its stake in Prosperity Bancshares by 349.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after acquiring an additional 713 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Activity at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 5,000 shares of company stock worth $362,910 over the last quarter. Insiders own 4.20% of the company's stock.

Prosperity Bancshares Trading Up 0.6 %

Shares of NYSE PB traded up $0.38 during midday trading on Thursday, reaching $67.65. The company had a trading volume of 491,363 shares, compared to its average volume of 574,622. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.76. The business's 50-day simple moving average is $70.64 and its 200 day simple moving average is $75.33. The stock has a market cap of $6.44 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.94 and a beta of 0.82.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.02. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. The company had revenue of $306.68 million during the quarter, compared to analyst estimates of $307.17 million. Analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

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 dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares's dividend payout ratio (DPR) is 45.85%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PB. Royal Bank of Canada dropped their price objective on Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a research note on Thursday. Morgan Stanley cut their price target on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Raymond James lifted their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Barclays reduced their price target on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Stephens boosted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $83.42.

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.