Thrivent Financial for Lutherans reduced its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 811,348 shares of the bank's stock after selling 7,396 shares during the quarter. Thrivent Financial for Lutherans owned 0.85% of Prosperity Bancshares worth $61,135,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares 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 valued at $71,000 after acquiring an additional 128 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 143 shares during the last quarter. M&T Bank Corp increased its holdings in Prosperity Bancshares by 0.3% during 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 during the last quarter. Sanctuary Advisors LLC raised its position in shares of Prosperity Bancshares by 3.8% in the 4th quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank's stock valued at $430,000 after purchasing an additional 194 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Prosperity Bancshares by 23.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank's stock valued at $76,000 after purchasing an additional 195 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.
Prosperity Bancshares Stock Up 2.4 %
Prosperity Bancshares stock traded up $1.67 during trading hours on Monday, hitting $72.21. 533,390 shares of the company traded hands, compared to its average volume of 523,574. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76. The firm has a market cap of $6.88 billion, a P/E ratio of 14.27, a P/E/G ratio of 0.94 and a beta of 0.94. The firm's 50-day simple moving average is $76.43 and its two-hundred day simple moving average is $76.20.
Prosperity Bancshares (NYSE:PB - Get Free Report) last posted 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%. On average, equities research analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.
Prosperity Bancshares Dividend Announcement
The company 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 dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.21%. Prosperity Bancshares's dividend payout ratio is currently 45.85%.
Wall Street Analysts Forecast Growth
PB has been the topic of several recent analyst reports. Morgan Stanley cut 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. StockNews.com lowered shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, March 19th. Barclays lifted their price target on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Friday, December 20th. Raymond James boosted their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Bank of America raised Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Prosperity Bancshares presently has a consensus rating of "Hold" and a consensus price target of $83.50.
Check Out Our Latest Analysis on Prosperity Bancshares
Insider Activity at Prosperity Bancshares
In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.63, for a total value of $35,315.00. Following the transaction, the director now owns 104,815 shares in the company, valued at approximately $7,403,083.45. The trade was a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 5,500 shares of company stock valued at $418,095 over the last 90 days. 4.28% of the stock is currently owned by corporate insiders.
About Prosperity Bancshares
(
Free Report)
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.
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