KLP Kapitalforvaltning AS Acquires Shares of 19,400 Prosperity Bancshares, Inc. (NYSE:PB)

KLP Kapitalforvaltning AS acquired a new position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 19,400 shares of the bank's stock, valued at approximately $1,471,000.

Other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock valued at $28,000 after acquiring an additional 312 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Prosperity Bancshares by 368.5% in the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after purchasing an additional 409 shares in the last quarter. UMB Bank n.a. grew its stake in Prosperity Bancshares by 102.7% during 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 last quarter. GAMMA Investing LLC increased its position 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, Sunbelt Securities Inc. increased its position 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 buying an additional 232 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Stock Up 1.2 %

Shares of PB traded up $0.87 during mid-day trading on Wednesday, reaching $71.54. The company had a trading volume of 369,254 shares, compared to its average volume of 548,696. The stock has a market capitalization of $6.82 billion, a P/E ratio of 14.14, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.76. The stock has a 50 day moving average of $75.35 and a two-hundred day moving average of $76.12.

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Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. On average, sell-side analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.58 per share. The ex-dividend date was Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.24%. Prosperity Bancshares's dividend payout ratio is presently 45.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wolfe Research restated a "peer perform" rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Morgan Stanley cut 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. Raymond James raised their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Barclays boosted 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. Finally, StockNews.com lowered Prosperity Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $83.50.

Insider Buying and Selling at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $74.12, for a total value of $37,060.00. Following the sale, the director now directly owns 109,315 shares of the company's stock, valued at approximately $8,102,427.80. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 5,500 shares of company stock valued at $416,135. Corporate insiders own 4.20% of the company's stock.

About Prosperity Bancshares

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.