Oak Thistle LLC Invests $736,000 in Prosperity Bancshares, Inc. (NYSE:PB)

Oak Thistle LLC bought a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,774 shares of the bank's stock, valued at approximately $736,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP increased its position in shares of Prosperity Bancshares by 533.3% during the 2nd quarter. Quarry LP now owns 494 shares of the bank's stock valued at $30,000 after purchasing an additional 416 shares during the last quarter. Quest Partners LLC boosted its stake in Prosperity Bancshares by 3,147.1% during the second quarter. Quest Partners LLC now owns 552 shares of the bank's stock worth $34,000 after buying an additional 535 shares during the period. GAMMA Investing LLC increased its position in Prosperity Bancshares by 47.9% during the third quarter. GAMMA Investing LLC now owns 701 shares of the bank's stock valued at $51,000 after acquiring an additional 227 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Prosperity Bancshares in the second quarter valued at $46,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Prosperity Bancshares by 190.0% in the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank's stock valued at $59,000 after acquiring an additional 534 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Prosperity Bancshares Stock Down 1.0 %

Shares of NYSE PB traded down $0.81 during midday trading on Thursday, hitting $78.02. The stock had a trading volume of 322,372 shares, compared to its average volume of 476,737. The stock has a 50 day simple moving average of $79.33 and a 200-day simple moving average of $73.67. The company has a market capitalization of $7.43 billion, a PE ratio of 16.56, a P/E/G ratio of 1.03 and a beta of 0.93. 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 announced its earnings results on Wednesday, October 23rd. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. The company had revenue of $459.00 million for the quarter, compared to analysts' expectations of $299.83 million. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. During the same quarter in the previous year, the company posted $1.20 EPS. As a group, analysts expect that Prosperity Bancshares, Inc. will post 5.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PB has been the topic of a number of research analyst reports. Truist Financial cut shares of Prosperity Bancshares from a "buy" rating to a "hold" rating and cut their price target for the stock from $81.00 to $79.00 in a report on Friday, September 20th. Royal Bank of Canada reiterated a "sector perform" rating and set a $77.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Bank of America raised Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research report on Tuesday, January 7th. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Finally, UBS Group dropped their target price on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, December 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $81.38.

Insider Activity at Prosperity Bancshares

In other news, Director Leah Henderson sold 1,100 shares of Prosperity Bancshares stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $83.24, for a total transaction of $91,564.00. Following the transaction, the director now owns 7,525 shares in the company, valued at $626,381. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ned S. Holmes sold 500 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $81.44, for a total transaction of $40,720.00. Following the completion of the sale, the director now directly owns 113,815 shares of the company's stock, valued at $9,269,093.60. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,100 shares of company stock valued at $1,156,639. Corporate insiders own 4.28% of the company's stock.

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.