Y Intercept Hong Kong Ltd Takes $995,000 Position in Prosperity Bancshares, Inc. (NYSE:PB)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,208 shares of the bank’s stock, valued at approximately $995,000.

A number of other large investors have also added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in shares of Prosperity Bancshares during the 3rd quarter valued at $16,478,000. Jane Street Group LLC lifted its stake in Prosperity Bancshares by 418.0% in the 3rd quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock worth $8,039,000 after purchasing an additional 90,015 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Prosperity Bancshares in the 4th quarter worth $5,463,000. Los Angeles Capital Management LLC purchased a new stake in Prosperity Bancshares in the 3rd quarter worth $4,804,000. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Prosperity Bancshares by 6.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 889,219 shares of the bank’s stock valued at $67,002,000 after buying an additional 53,654 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Price Performance

NYSE:PB opened at $76.72 on Friday. The firm has a market capitalization of $7.31 billion, a P/E ratio of 15.16, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.75. The company’s fifty day moving average price is $77.36 and its 200-day moving average price is $76.11.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

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 given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.02%. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

Insider Activity at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $82.17, for a total value of $41,085.00. Following the sale, the director now owns 111,315 shares in the company, valued at $9,146,753.55. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harrison Stafford II sold 4,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the transaction, the director now directly owns 107,137 shares in the company, valued at approximately $8,578,459.59. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,500 shares of company stock worth $752,665. 4.28% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Raymond James upped their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Tuesday, January 7th. Stephens upped their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Barclays increased their target price on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. 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 data from MarketBeat, the stock 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.