Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Sather Financial Group Inc

Sather Financial Group Inc lowered its position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 72.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,378 shares of the bank's stock after selling 11,649 shares during the period. Sather Financial Group Inc's holdings in Prosperity Bancshares were worth $330,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Prosperity Bancshares by 14.9% during the fourth quarter. Blue Trust Inc. now owns 987 shares of the bank's stock worth $71,000 after purchasing an additional 128 shares in the last quarter. GAMMA Investing LLC boosted its stake in Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock valued at $64,000 after acquiring an additional 143 shares in the last quarter. M&T Bank Corp boosted its stake in Prosperity Bancshares by 0.3% in the third quarter. M&T Bank Corp now owns 45,392 shares of the bank's stock valued at $3,272,000 after acquiring an additional 149 shares in the last quarter. US Bancorp DE boosted its stake in Prosperity Bancshares by 3.4% in the third quarter. US Bancorp DE now owns 4,720 shares of the bank's stock valued at $340,000 after acquiring an additional 153 shares in the last quarter. Finally, Savant Capital LLC boosted its stake in Prosperity Bancshares by 4.6% in the fourth quarter. Savant Capital LLC now owns 4,505 shares of the bank's stock valued at $339,000 after acquiring an additional 197 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Prosperity Bancshares Stock Performance

PB traded down $0.21 during trading on Friday, reaching $77.81. The company's stock had a trading volume of 364,211 shares, compared to its average volume of 534,234. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.75. The company's fifty day moving average price is $77.79 and its 200-day moving average price is $75.72. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 0.98 and a beta of 0.94.

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

Prosperity Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.98%. Prosperity Bancshares's payout ratio is 45.85%.

Insider Activity

In other news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on 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 in the company, valued at approximately $9,269,093.60. This trade represents a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leah Henderson sold 1,100 shares of Prosperity Bancshares stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $83.24, for a total transaction of $91,564.00. Following the sale, the director now owns 7,525 shares of the company's stock, valued at approximately $626,381. The trade was a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,600 shares of company stock worth $1,273,279. Company insiders own 4.28% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. 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 research note on Tuesday, January 7th. Stephens upped their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Barclays upped their target price on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Friday, December 20th. StockNews.com raised shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Finally, Raymond James upped their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.