Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Sei Investments Co.

Sei Investments Co. decreased its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 116,067 shares of the bank’s stock after selling 2,286 shares during the period. Sei Investments Co. owned approximately 0.12% of Prosperity Bancshares worth $8,745,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new stake in shares of Prosperity Bancshares in the third quarter valued at approximately $16,478,000. Raymond James Financial Inc. purchased a new stake in Prosperity Bancshares in the 4th quarter valued at $8,643,000. Jane Street Group LLC grew its holdings in Prosperity Bancshares by 418.0% in the 3rd quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock valued at $8,039,000 after buying an additional 90,015 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Prosperity Bancshares in the 4th quarter worth $5,463,000. Finally, Boston Partners boosted its position in shares of Prosperity Bancshares by 32.6% during the 4th quarter. Boston Partners now owns 255,380 shares of the bank’s stock valued at $19,249,000 after acquiring an additional 62,746 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. UBS Group reduced their target price 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. Barclays lifted their price target 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. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. StockNews.com lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, March 19th. Finally, Bank of America upgraded Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.50.

Insider Transactions at Prosperity Bancshares

In related 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 transaction, the director now owns 109,315 shares of the company’s stock, valued at $8,102,427.80. This represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 5,500 shares of company stock valued at $416,135. 4.20% of the stock is currently owned by corporate insiders.

Prosperity Bancshares Stock Performance

Shares of PB stock opened at $70.49 on Monday. The stock has a market capitalization of $6.72 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.76. The company has a 50 day moving average price of $75.83 and a 200 day moving average price of $76.17.

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%. On average, research analysts forecast 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 paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s payout ratio is presently 45.85%.

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.