Yousif Capital Management LLC Has $2.51 Million Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

Yousif Capital Management LLC lowered its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,349 shares of the bank’s stock after selling 1,396 shares during the quarter. Yousif Capital Management LLC’s holdings in Prosperity Bancshares were worth $2,513,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Trust Point Inc. lifted its holdings in shares of Prosperity Bancshares by 40.2% in the fourth quarter. Trust Point Inc. now owns 4,770 shares of the bank’s stock valued at $359,000 after purchasing an additional 1,367 shares in the last quarter. Hodges Capital Management Inc. lifted its stake in Prosperity Bancshares by 4.9% in the 4th quarter. Hodges Capital Management Inc. now owns 147,231 shares of the bank’s stock worth $11,094,000 after acquiring an additional 6,902 shares in the last quarter. Pacer Advisors Inc. boosted its position in Prosperity Bancshares by 1.8% during the 4th quarter. Pacer Advisors Inc. now owns 14,202 shares of the bank’s stock worth $1,070,000 after acquiring an additional 247 shares during the period. KBC Group NV grew its stake in Prosperity Bancshares by 45.1% during 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 in the last quarter. Finally, Blue Trust Inc. increased 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 valued at $71,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Price Performance

Shares of Prosperity Bancshares stock opened at $79.96 on Monday. The company has a market cap of $7.62 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 0.98 and a beta of 0.94. The firm has a fifty day moving average price of $78.24 and a two-hundred day moving average price of $75.54. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.75.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share 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%. Analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s payout ratio is presently 45.85%.

Insider Activity

In related news, Chairman H E. Timanus, Jr. sold 4,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $86.50, for a total value of $346,000.00. Following the sale, the chairman now owns 229,953 shares of the company’s stock, valued at $19,890,934.50. The trade was a 1.71 % 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 Ned S. Holmes sold 500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $81.44, for a total transaction of $40,720.00. Following the transaction, the director now owns 113,815 shares of the company’s stock, valued at approximately $9,269,093.60. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,600 shares of company stock worth $1,276,109. Company insiders own 4.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PB. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Tuesday, January 7th. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 price target on shares of Prosperity Bancshares in a research note on Thursday, October 24th. StockNews.com raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

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.