Venturi Wealth Management LLC Boosts Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Venturi Wealth Management LLC grew its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 5,602.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,939 shares of the bank’s stock after purchasing an additional 1,905 shares during the period. Venturi Wealth Management LLC’s holdings in Prosperity Bancshares were worth $146,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings 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 buying an additional 128 shares during 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 worth $64,000 after purchasing an additional 143 shares during the last quarter. M&T Bank Corp boosted its holdings in Prosperity Bancshares by 0.3% in the third 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. US Bancorp DE boosted its holdings in Prosperity Bancshares by 3.4% in the third quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock worth $340,000 after purchasing an additional 153 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in Prosperity Bancshares by 3.8% in the fourth quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank’s stock worth $430,000 after purchasing an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at Prosperity Bancshares

In related news, Chairman H E. Timanus, Jr. sold 4,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $86.50, for a total transaction of $346,000.00. Following the completion of the transaction, the chairman now directly owns 229,953 shares of the company’s stock, valued at approximately $19,890,934.50. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $83.04, for a total transaction of $41,520.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,000 shares of company stock valued at $1,140,995. Corporate insiders own 4.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. StockNews.com upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Raymond James raised their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Barclays increased their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Finally, UBS Group decreased their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Prosperity Bancshares Price Performance

Shares of PB stock opened at $76.50 on Friday. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.75. The company’s fifty day moving average price is $77.46 and its 200-day moving average price is $75.97.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 EPS 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 research analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share 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 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 3.03%. Prosperity Bancshares’s payout ratio is 45.85%.

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.