Prosperity Bancshares, Inc. (NYSE:PB) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,202 shares of the bank’s stock after acquiring an additional 247 shares during the quarter. Pacer Advisors Inc.’s holdings in Prosperity Bancshares were worth $1,070,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PB. KBC Group NV lifted its holdings in Prosperity Bancshares by 45.1% in the 4th quarter. KBC Group NV now owns 4,099 shares of the bank’s stock valued at $309,000 after acquiring an additional 1,275 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Prosperity Bancshares by 14.9% in the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank’s stock worth $71,000 after purchasing an additional 128 shares in the last quarter. Olistico Wealth LLC lifted its stake in Prosperity Bancshares by 93.5% during the fourth quarter. Olistico Wealth LLC now owns 2,872 shares of the bank’s stock valued at $216,000 after purchasing an additional 1,388 shares during the last quarter. Dakota Wealth Management bought a new stake in Prosperity Bancshares during the fourth quarter worth approximately $237,000. Finally, UMB Bank n.a. grew its position in Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after buying an additional 300 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, Chairman H E. Timanus, Jr. sold 4,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was 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 approximately $19,890,934.50. This represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 113,815 shares in the company, valued at $9,269,093.60. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,100 shares of company stock worth $1,236,104. Insiders own 4.28% of the company’s stock.

Prosperity Bancshares Stock Down 0.4 %

Shares of NYSE:PB opened at $79.96 on Monday. 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 $7.62 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93. The firm has a fifty day moving average of $78.68 and a two-hundred day moving average of $75.16.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.68% and a net margin of 26.79%. Equities research analysts expect that Prosperity Bancshares, Inc. will post 5.78 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 2.90%. Prosperity Bancshares’s payout ratio is 45.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. StockNews.com upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Friday. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. UBS Group dropped their price target on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Tuesday, January 7th. Finally, Stephens lifted 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. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Prosperity Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

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.