2,990 Shares in Prosperity Bancshares, Inc. (NYSE:PB) Bought by Atria Investments Inc

Atria Investments Inc acquired a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,990 shares of the bank’s stock, valued at approximately $225,000.

Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in shares of Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock valued at $28,000 after purchasing an additional 312 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock worth $39,000 after acquiring an additional 409 shares during the period. UMB Bank n.a. grew its stake 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 purchasing an additional 300 shares during the period. First Horizon Advisors Inc. raised its holdings in Prosperity Bancshares by 190.0% in the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after purchasing an additional 534 shares in the last quarter. Finally, 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 valued at $64,000 after buying an additional 143 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Prosperity Bancshares Stock Down 0.5 %

PB opened at $70.49 on Wednesday. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.76. The firm has a 50 day moving average price of $76.64 and a 200-day moving average price of $76.25. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, beating 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%. As a group, analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.58 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.29%. Prosperity Bancshares’s payout ratio is 45.85%.

Analyst Ratings Changes

A number of analysts have recently weighed in on PB shares. Morgan Stanley reduced their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. StockNews.com upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. 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 report on Thursday, December 26th. Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Finally, Stephens boosted their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Seven investment 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 an average rating of “Moderate Buy” and an average price target of $83.50.

Insider Activity

In related news, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $75.25, for a total value of $37,625.00. Following the transaction, the director now directly owns 109,815 shares of the company’s stock, valued at approximately $8,263,578.75. This trade represents a 0.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 5,000 shares of company stock valued at $382,665 in the last quarter. 4.28% of the stock is currently owned by insiders.

About Prosperity Bancshares

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.