Prosperity Bancshares, Inc. (NYSE:PB) Shares Purchased by Prospector Partners LLC

Prospector Partners LLC lifted its position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,608 shares of the bank's stock after buying an additional 34,616 shares during the quarter. Prosperity Bancshares comprises approximately 2.2% of Prospector Partners LLC's holdings, making the stock its 10th biggest position. Prospector Partners LLC owned approximately 0.28% of Prosperity Bancshares worth $19,863,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PB. Federated Hermes Inc. grew its holdings in Prosperity Bancshares by 1.1% during the fourth quarter. Federated Hermes Inc. now owns 57,003 shares of the bank's stock worth $4,295,000 after purchasing an additional 648 shares during the period. Aster Capital Management DIFC Ltd lifted its position in shares of Prosperity Bancshares by 349.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock valued at $69,000 after buying an additional 713 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Prosperity Bancshares by 28.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,603 shares of the bank's stock worth $121,000 after acquiring an additional 355 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Prosperity Bancshares by 16.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 57,220 shares of the bank's stock worth $4,312,000 after acquiring an additional 7,913 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Prosperity Bancshares by 10.4% in the 4th quarter. Wells Fargo & Company MN now owns 150,935 shares of the bank's stock valued at $11,373,000 after acquiring an additional 14,279 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $79.01, for a total transaction of $39,505.00. Following the sale, the director now owns 108,315 shares in the company, valued at $8,557,968.15. The trade was a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 5,500 shares of company stock worth $408,695 in the last three months. 4.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PB has been the topic of several research analyst reports. Morgan Stanley lowered their price target on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. UBS Group lowered their price objective 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. Stephens boosted their target price on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. StockNews.com raised shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday. Finally, Barclays decreased their target price on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Prosperity Bancshares has a consensus rating of "Moderate Buy" and an average target price of $83.35.

Prosperity Bancshares Stock Up 1.5 %

Shares of PB stock traded up $0.95 during trading hours on Friday, reaching $65.14. The company's stock had a trading volume of 606,822 shares, compared to its average volume of 558,466. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.76. The firm's 50 day simple moving average is $73.04 and its 200-day simple moving average is $75.67. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.94 and a beta of 0.82.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, beating 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%. Sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Friday, March 14th. Prosperity Bancshares's dividend payout ratio (DPR) is presently 45.85%.

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.