Strategic Financial Concepts LLC Invests $5.46 Million in Prosperity Bancshares, Inc. (NYSE:PB)

Strategic Financial Concepts LLC bought a new stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 72,506 shares of the bank's stock, valued at approximately $5,463,000. Strategic Financial Concepts LLC owned about 0.08% of Prosperity Bancshares at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Prosperity Bancshares by 47.9% during the third quarter. GAMMA Investing LLC now owns 701 shares of the bank's stock valued at $51,000 after buying an additional 227 shares during the period. CWM LLC grew its position in Prosperity Bancshares by 29.3% during the third quarter. CWM LLC now owns 7,803 shares of the bank's stock valued at $562,000 after buying an additional 1,766 shares during the period. Creative Planning grew its position in Prosperity Bancshares by 17.2% during the third quarter. Creative Planning now owns 3,909 shares of the bank's stock valued at $282,000 after buying an additional 574 shares during the period. NBC Securities Inc. grew its position in Prosperity Bancshares by 36.1% during the third quarter. NBC Securities Inc. now owns 6,004 shares of the bank's stock valued at $432,000 after buying an additional 1,594 shares during the period. Finally, Hunter Perkins Capital Management LLC grew its position in Prosperity Bancshares by 2.8% during the third quarter. Hunter Perkins Capital Management LLC now owns 159,220 shares of the bank's stock valued at $11,530,000 after buying an additional 4,265 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

PB has been the subject of several research reports. Wedbush restated an "outperform" rating and set a $90.00 price target on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Royal Bank of Canada reiterated a "sector perform" rating and set a $77.00 target price on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Wolfe Research reiterated a "peer perform" rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Raymond James increased their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" 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 target price for the company in a research report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $82.88.

Insider Activity at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $81.44, for a total value of $40,720.00. Following the sale, the director now directly owns 113,815 shares of the company's stock, valued at $9,269,093.60. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $83.24, for a total transaction of $91,564.00. Following the transaction, the director now directly owns 7,525 shares in the company, valued at $626,381. This trade represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,600 shares of company stock valued at $1,273,279 over the last three months. 4.28% of the stock is owned by corporate insiders.

Prosperity Bancshares Trading Down 0.1 %

Shares of PB stock traded down $0.05 during trading hours on Thursday, reaching $77.97. The stock had a trading volume of 473,487 shares, compared to its average volume of 518,427. The stock's fifty day simple moving average is $77.96 and its 200 day simple moving average is $75.65. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75. The firm has a market capitalization of $7.43 billion, a PE ratio of 15.41, a PEG ratio of 0.98 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, beating analysts' consensus estimates 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, equities research analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

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

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.