New York State Common Retirement Fund Trims Position in Prosperity Bancshares, Inc. (NYSE:PB)

New York State Common Retirement Fund trimmed its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 5.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 302,857 shares of the bank's stock after selling 18,700 shares during the period. New York State Common Retirement Fund owned approximately 0.32% of Prosperity Bancshares worth $22,820,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC grew its stake in shares of Prosperity Bancshares by 5,602.9% in the 4th quarter. Venturi Wealth Management LLC now owns 1,939 shares of the bank's stock valued at $146,000 after buying an additional 1,905 shares during the period. CIBC Asset Management Inc bought a new position in Prosperity Bancshares in the fourth quarter worth approximately $210,000. Sanctuary Advisors LLC boosted its holdings in Prosperity Bancshares by 3.8% in the fourth quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank's stock worth $430,000 after acquiring an additional 194 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Prosperity Bancshares in the fourth quarter valued at approximately $5,463,000. Finally, Lakeridge Wealth Management LLC bought a new stake in shares of Prosperity Bancshares during the fourth quarter valued at approximately $209,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Activity

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $84.66, for a total value of $42,330.00. Following the sale, the director now directly owns 113,315 shares in the company, valued at $9,593,247.90. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harrison Stafford II sold 4,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $80.07, for a total value of $320,280.00. Following the transaction, the director now owns 107,137 shares of the company's stock, valued at $8,578,459.59. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,000 shares of company stock valued at $794,995 in the last three months. Company insiders own 4.28% of the company's stock.

Prosperity Bancshares Stock Up 0.4 %

Prosperity Bancshares stock traded up $0.30 during mid-day trading on Tuesday, reaching $76.55. 466,232 shares of the company's stock were exchanged, compared to its average volume of 502,551. The business's fifty day simple moving average is $77.34 and its 200 day simple moving average is $76.11. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.75. The firm has a market capitalization of $7.29 billion, a PE ratio of 15.13, a P/E/G ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released 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%. On average, sell-side analysts forecast that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

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 paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares's payout ratio is 45.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PB shares. Stephens increased their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Bank of America upgraded shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a report on Tuesday, January 7th. StockNews.com upgraded shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Raymond James raised their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Wolfe Research reissued a "peer perform" rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Seven equities research 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, Prosperity Bancshares has a consensus rating of "Moderate Buy" and an average target price of $82.88.

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.