Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 12.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,110 shares of the bank's stock after selling 3,746 shares during the period. State of New Jersey Common Pension Fund D's holdings in Prosperity Bancshares were worth $1,967,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PB shares. Stephens boosted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Wolfe Research reissued a "peer perform" rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. UBS Group dropped their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, December 26th. Raymond James lifted their price objective 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. Finally, Barclays increased their price target on Prosperity Bancshares from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.88.

Prosperity Bancshares Stock Up 0.3 %

PB stock traded up $0.27 during trading on Thursday, hitting $76.72. The company had a trading volume of 328,746 shares, compared to its average volume of 498,706. The firm has a 50-day moving average price of $77.36 and a 200-day moving average price of $76.11. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings results 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 net margin of 26.79% and a return on equity of 6.64%. Equities analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Announces Dividend

The firm 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 $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares's dividend payout ratio (DPR) is currently 45.85%.

Insider Activity at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $83.04, for a total value of $41,520.00. Following the completion of the sale, the director now owns 112,815 shares of the company's stock, valued at $9,368,157.60. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harrison Stafford II sold 4,000 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $80.07, for a total value of $320,280.00. Following the completion of the transaction, the director now directly owns 107,137 shares in the company, valued at $8,578,459.59. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,500 shares of company stock valued at $752,665 over the last 90 days. 4.28% of the stock is owned by 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.