Prosperity Bancshares, Inc. (NYSE:PB) Stock Position Raised by First Hawaiian Bank

First Hawaiian Bank boosted its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 47.5% during the 4th quarter, HoldingsChannel reports. The firm owned 4,612 shares of the bank’s stock after buying an additional 1,485 shares during the quarter. First Hawaiian Bank’s holdings in Prosperity Bancshares were worth $348,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PB. Dimensional Fund Advisors LP increased its stake in Prosperity Bancshares by 14.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,287,615 shares of the bank’s stock valued at $262,141,000 after buying an additional 532,241 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Prosperity Bancshares in the third quarter worth $16,478,000. Thrivent Financial for Lutherans raised its holdings in shares of Prosperity Bancshares by 16.0% during the second quarter. Thrivent Financial for Lutherans now owns 811,772 shares of the bank’s stock worth $49,632,000 after acquiring an additional 112,101 shares in the last quarter. Jane Street Group LLC grew its stake in Prosperity Bancshares by 418.0% in the third quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock valued at $8,039,000 after purchasing an additional 90,015 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Prosperity Bancshares by 11.9% in the 2nd quarter. AQR Capital Management LLC now owns 673,198 shares of the bank’s stock worth $40,883,000 after purchasing an additional 71,694 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Prosperity Bancshares Stock Down 1.7 %

Shares of PB stock opened at $73.39 on Friday. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75. The firm has a market cap of $6.99 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.19 and a beta of 0.93. The stock has a 50 day moving average of $79.25 and a 200-day moving average of $73.32.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $459.00 million during the quarter, compared to analysts’ expectations of $299.83 million. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. During the same period in the prior year, the company earned $1.20 EPS. As a group, equities analysts predict that Prosperity Bancshares, Inc. will post 5.05 EPS for the current fiscal year.

Prosperity Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.56. This represents a $2.32 dividend on an annualized basis and a yield of 3.16%. Prosperity Bancshares’s dividend payout ratio (DPR) is 49.26%.

Insider Activity at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.96, for a total value of $41,980.00. Following the sale, the director now owns 114,315 shares of the company’s stock, valued at $9,597,887.40. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Leah Henderson sold 1,100 shares of the firm’s stock in a transaction dated 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 owns 7,525 shares of the company’s stock, valued at approximately $626,381. This represents a 12.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,600 shares of company stock worth $1,117,424 over the last three months. Company insiders own 4.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PB shares. UBS Group lowered their price target on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, December 26th. DA Davidson downgraded shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $78.00 in a research report on Tuesday, October 15th. StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday. Raymond James cut shares of Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price objective for the company. in a report on Tuesday, September 17th. Finally, Barclays raised their target price on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Prosperity Bancshares currently has a consensus rating of “Hold” and an average target price of $81.38.

About Prosperity Bancshares

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.