15,583 Shares in Prosperity Bancshares, Inc. (NYSE:PB) Bought by Point72 DIFC Ltd

Point72 DIFC Ltd purchased a new position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 15,583 shares of the bank's stock, valued at approximately $1,123,000.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Prosperity Bancshares by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank's stock worth $29,000 after acquiring an additional 177 shares during the period. Quarry LP lifted its stake in Prosperity Bancshares by 533.3% during the second 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 lifted 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 valued at $34,000 after purchasing an additional 535 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Prosperity Bancshares during the second quarter valued at approximately $43,000. Finally, Headlands Technologies LLC acquired a new stake in Prosperity Bancshares during the second quarter valued at approximately $46,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Prosperity Bancshares Price Performance

Prosperity Bancshares stock traded down $1.21 during trading hours on Thursday, hitting $82.17. The company had a trading volume of 287,111 shares, compared to its average volume of 566,237. The firm has a market capitalization of $7.83 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.24 and a beta of 0.92. The firm's fifty day moving average is $76.89 and its 200-day moving average is $70.26. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.75.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $459.00 million for the quarter, compared to analyst estimates 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 prior year, the business earned $1.20 EPS. Analysts anticipate that Prosperity Bancshares, Inc. will post 5.05 earnings per share for the current year.

Prosperity Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Prosperity Bancshares's previous quarterly dividend of $0.56. Prosperity Bancshares's dividend payout ratio is currently 49.26%.

Wall Street Analysts Forecast Growth

PB has been the subject of several recent research reports. Wedbush reissued an "outperform" rating and set a $90.00 target price on shares of Prosperity Bancshares in a research note on Thursday, October 24th. DA Davidson lowered shares of Prosperity Bancshares from a "buy" rating to a "neutral" rating and cut their target price for the company from $80.00 to $78.00 in a research note on Tuesday, October 15th. Raymond James lowered shares of Prosperity Bancshares from a "strong-buy" rating to an "outperform" rating and set a $80.00 target price for the company. in a research note on Tuesday, September 17th. StockNews.com lowered shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a research note on Friday, November 29th. Finally, Hovde Group boosted their price target on shares of Prosperity Bancshares from $80.50 to $82.50 and gave the company an "outperform" rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.68.

Insider Buying and Selling at Prosperity Bancshares

In other news, Chairman H E. Timanus, Jr. sold 4,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $86.50, for a total transaction of $346,000.00. Following the transaction, the chairman now owns 229,953 shares in the company, valued at $19,890,934.50. This represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ned S. Holmes sold 500 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $81.44, for a total transaction of $40,720.00. Following the transaction, the director now owns 113,815 shares in the company, valued at approximately $9,269,093.60. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,100 shares of company stock worth $604,114. 4.28% of the stock is currently owned by company 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.