Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Amica Mutual Insurance Co.

Amica Mutual Insurance Co. lessened its position in Prosperity Bancshares, Inc. (NYSE:PB) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,366 shares of the bank’s stock after selling 16,404 shares during the quarter. Prosperity Bancshares comprises 1.1% of Amica Mutual Insurance Co.’s holdings, making the stock its 20th largest position. Amica Mutual Insurance Co.’s holdings in Prosperity Bancshares were worth $10,652,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in Prosperity Bancshares by 487.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after purchasing an additional 312 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Prosperity Bancshares by 368.5% in the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock valued at $39,000 after purchasing an additional 409 shares during the last quarter. UMB Bank n.a. lifted its position in Prosperity Bancshares by 102.7% during 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 in the last quarter. GAMMA Investing LLC lifted its position in Prosperity Bancshares by 20.4% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after buying an additional 143 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Prosperity Bancshares by 31.0% during the third quarter. Sunbelt Securities Inc. now owns 981 shares of the bank’s stock worth $71,000 after buying an additional 232 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Prosperity Bancshares Stock Down 0.5 %

Shares of NYSE PB opened at $71.69 on Thursday. The business’s 50 day moving average is $76.12 and its two-hundred day moving average is $76.16. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.76. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. Analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s payout ratio is 45.85%.

Insider Activity at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $74.12, for a total value of $37,060.00. Following the sale, the director now directly owns 109,315 shares in the company, valued at approximately $8,102,427.80. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 5,000 shares of company stock worth $380,075. Corporate insiders own 4.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on PB shares. Barclays raised their target price on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Bank of America upgraded 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 report on Tuesday, January 7th. Stephens boosted their target price on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. UBS Group cut their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, December 26th. Finally, Raymond James lifted their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned 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 price target of $83.50.

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.