SG Americas Securities LLC Has $434,000 Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

SG Americas Securities LLC cut its position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 58.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,754 shares of the bank's stock after selling 8,056 shares during the quarter. SG Americas Securities LLC's holdings in Prosperity Bancshares were worth $434,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in shares of Prosperity Bancshares during the third quarter worth $16,478,000. Jane Street Group LLC increased its stake in Prosperity Bancshares by 418.0% in the 3rd quarter. Jane Street Group LLC now owns 111,548 shares of the bank's stock worth $8,039,000 after purchasing an additional 90,015 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Prosperity Bancshares in the 3rd quarter worth about $4,804,000. Allspring Global Investments Holdings LLC raised its holdings in Prosperity Bancshares by 21.8% during 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. Finally, Prospector Partners LLC lifted its stake in Prosperity Bancshares by 24.6% during the third quarter. Prospector Partners LLC now owns 228,992 shares of the bank's stock valued at $16,503,000 after buying an additional 45,177 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PB. Wolfe Research reissued a "peer perform" rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Barclays raised their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Friday, December 20th. Raymond James upped their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Stephens increased their target price on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Finally, Bank of America upgraded shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.88.

Prosperity Bancshares Price Performance

PB stock traded down $0.09 during midday trading on Thursday, reaching $80.61. 474,385 shares of the company were exchanged, compared to its average volume of 534,616. The business has a 50-day moving average price of $78.31 and a two-hundred day moving average price of $75.39. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.75.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. As a group, analysts anticipate that Prosperity Bancshares, Inc. will post 5.8 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares's dividend payout ratio (DPR) is presently 45.85%.

Insider Buying and Selling

In related 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 sale, the director now directly owns 113,815 shares of the company's stock, valued at approximately $9,269,093.60. The trade was a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,600 shares of company stock worth $1,276,109. 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.