Raymond James Financial Inc. Purchases Shares of 114,707 Prosperity Bancshares, Inc. (NYSE:PB)

Raymond James Financial Inc. purchased a new stake in Prosperity Bancshares, Inc. (NYSE:PB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 114,707 shares of the bank’s stock, valued at approximately $8,643,000. Raymond James Financial Inc. owned 0.12% of Prosperity Bancshares at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake 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 in the last quarter. GAMMA Investing LLC lifted its stake in shares of Prosperity Bancshares by 20.4% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after purchasing an additional 143 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Prosperity Bancshares by 0.3% in the 3rd quarter. M&T Bank Corp now owns 45,392 shares of the bank’s stock valued at $3,272,000 after purchasing an additional 149 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Prosperity Bancshares by 3.8% in the 4th quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank’s stock valued at $430,000 after purchasing an additional 194 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Prosperity Bancshares by 23.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank’s stock valued at $76,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity

In other news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 109,815 shares in the company, valued at approximately $8,263,578.75. The trade was a 0.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 5,500 shares of company stock worth $418,095. 4.28% of the stock is currently owned by insiders.

Prosperity Bancshares Stock Down 0.1 %

Shares of PB opened at $70.49 on Friday. The business’s 50 day moving average is $76.43 and its two-hundred day moving average is $76.17. 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 $6.71 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. On average, equities 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 declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.29%. Prosperity Bancshares’s dividend payout ratio (DPR) is 45.85%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PB shares. Stephens lifted their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. StockNews.com lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday. Raymond James boosted their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Bank of America raised Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research report on Tuesday, January 7th. Finally, UBS Group reduced 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $83.50.

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.