Hudson Edge Investment Partners Inc. Takes $1.07 Million Position in Prosperity Bancshares, Inc. (NYSE:PB)

Hudson Edge Investment Partners Inc. bought a new stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,157 shares of the bank's stock, valued at approximately $1,067,000.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its holdings 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 in the last quarter. First Horizon Advisors Inc. increased its position in shares of Prosperity Bancshares by 190.0% during the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank's stock worth $59,000 after acquiring an additional 534 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Prosperity Bancshares by 181.6% in the third quarter. Blue Trust Inc. now owns 859 shares of the bank's stock worth $62,000 after acquiring an additional 554 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 143 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its stake in Prosperity Bancshares by 31.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 981 shares of the bank's stock valued at $71,000 after purchasing an additional 232 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $83.04, for a total transaction of $41,520.00. Following the sale, the director now owns 112,815 shares in the company, valued at $9,368,157.60. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harrison Stafford II sold 4,000 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the sale, the director now owns 107,137 shares of the company's stock, valued at approximately $8,578,459.59. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,500 shares of company stock valued at $752,665 over the last three months. Company insiders own 4.28% of the company's stock.

Prosperity Bancshares Stock Performance

Shares of NYSE:PB traded down $0.17 during trading hours on Wednesday, hitting $76.39. 530,369 shares of the company's stock traded hands, compared to its average volume of 503,302. The company's fifty day simple moving average is $77.34 and its two-hundred day simple moving average is $76.11. Prosperity Bancshares, Inc. has a 52 week low of $57.16 and a 52 week high of $86.75. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth 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 (EPS) for the quarter, topping 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, analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS 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. Stockholders of record on Friday, March 14th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares's dividend payout ratio (DPR) is presently 45.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays upped their target price on Prosperity Bancshares from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Friday, December 20th. Stephens increased their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Raymond James boosted their target price 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. Wolfe Research reissued a "peer perform" rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Finally, Bank of America upgraded Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a research note on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Prosperity Bancshares has an average rating of "Moderate Buy" and an average target price of $82.88.

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.