Smartleaf Asset Management LLC Boosts Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Smartleaf Asset Management LLC raised its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 487.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 376 shares of the bank’s stock after purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC’s holdings in Prosperity Bancshares were worth $28,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Prosperity Bancshares by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank’s stock valued at $123,162,000 after purchasing an additional 15,309 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Prosperity Bancshares by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,183,295 shares of the bank’s stock valued at $85,280,000 after purchasing an additional 6,518 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Prosperity Bancshares by 6.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 889,219 shares of the bank’s stock valued at $67,002,000 after purchasing an additional 53,654 shares in the last quarter. Verition Fund Management LLC lifted its holdings in Prosperity Bancshares by 0.5% during the third quarter. Verition Fund Management LLC now owns 834,701 shares of the bank’s stock valued at $60,157,000 after purchasing an additional 3,978 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Prosperity Bancshares by 0.9% in the third quarter. Thrivent Financial for Lutherans now owns 818,744 shares of the bank’s stock worth $59,007,000 after buying an additional 6,972 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PB. Barclays raised their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Stephens raised their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. UBS Group decreased their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Prosperity Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Prosperity Bancshares Stock Down 0.6 %

Shares of NYSE PB opened at $70.24 on Thursday. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.76. The business’s 50 day moving average is $77.08 and its two-hundred day moving average is $76.34.

Prosperity Bancshares (NYSE:PB) last posted 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 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is currently 45.85%.

Insider Transactions at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $76.04, for a total value of $38,020.00. Following the transaction, the director now owns 110,315 shares of the company’s stock, valued at $8,388,352.60. This represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Harrison Stafford II sold 4,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $80.07, for a total value of $320,280.00. Following the completion of the transaction, the director now directly owns 107,137 shares in the company, valued at $8,578,459.59. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,000 shares of company stock valued at $706,870. 4.28% of the stock is currently owned by company 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.