Nisa Investment Advisors LLC Sells 4,145 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Nisa Investment Advisors LLC trimmed its stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 28.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,659 shares of the bank's stock after selling 4,145 shares during the quarter. Nisa Investment Advisors LLC's holdings in Prosperity Bancshares were worth $809,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in Prosperity Bancshares in the 3rd quarter worth approximately $16,478,000. Jane Street Group LLC raised its position in shares of Prosperity Bancshares by 418.0% during the 3rd quarter. Jane Street Group LLC now owns 111,548 shares of the bank's stock valued at $8,039,000 after purchasing an additional 90,015 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Prosperity Bancshares during the 3rd quarter valued at $4,804,000. Sei Investments Co. lifted its stake in shares of Prosperity Bancshares by 126.7% during the 2nd quarter. Sei Investments Co. now owns 93,013 shares of the bank's stock valued at $5,687,000 after buying an additional 51,979 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Prosperity Bancshares by 21.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 272,331 shares of the bank's stock worth $19,627,000 after buying an additional 48,719 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Prosperity Bancshares Stock Down 0.7 %

Shares of NYSE:PB traded down $0.59 during midday trading on Wednesday, reaching $79.41. The company's stock had a trading volume of 885,023 shares, compared to its average volume of 520,101. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 1.11 and a beta of 0.93. The business has a 50 day moving average price of $78.85 and a 200 day moving average price of $74.90. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.75.

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, beating the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. Sell-side analysts anticipate that Prosperity Bancshares, Inc. will post 5.05 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

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 paid a $0.58 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.92%. Prosperity Bancshares's dividend payout ratio (DPR) is presently 49.26%.

Analyst Ratings Changes

Several equities analysts have weighed in on PB shares. StockNews.com cut Prosperity Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. Wedbush reiterated an "outperform" rating and issued a $90.00 price target on shares of Prosperity Bancshares in a report on Thursday, October 24th. Wolfe Research restated a "peer perform" rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. DA Davidson downgraded shares of Prosperity Bancshares from a "buy" rating to a "neutral" rating and decreased their target price for the company from $80.00 to $78.00 in a research report on Tuesday, October 15th. Finally, UBS Group reduced their price target on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, December 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $81.38.

Insider Buying and Selling

In related news, Chairman H E. Timanus, Jr. sold 4,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $86.50, for a total value of $346,000.00. Following the completion of the sale, the chairman now owns 229,953 shares of the company's stock, valued at $19,890,934.50. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $83.96, for a total value of $41,980.00. Following the transaction, the director now owns 114,315 shares in the company, valued at approximately $9,597,887.40. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,600 shares of company stock worth $1,196,144 over the last ninety days. 4.28% of the stock is owned by insiders.

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.