Handelsbanken Fonder AB Grows Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

Handelsbanken Fonder AB increased its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,531 shares of the bank’s stock after acquiring an additional 2,600 shares during the period. Handelsbanken Fonder AB’s holdings in Prosperity Bancshares were worth $1,773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in Prosperity Bancshares in the third quarter valued at $4,804,000. Prospector Partners LLC boosted its stake in shares of Prosperity Bancshares by 24.6% during the third quarter. Prospector Partners LLC now owns 228,992 shares of the bank’s stock valued at $16,503,000 after acquiring an additional 45,177 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Prosperity Bancshares by 0.9% during 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 during the period. Sanctuary Advisors LLC purchased a new position in Prosperity Bancshares during the third quarter worth about $372,000. Finally, US Bancorp DE lifted its position in Prosperity Bancshares by 3.4% during the third quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock worth $340,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Harrison Stafford II sold 4,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the transaction, the director now owns 107,137 shares of the company’s stock, valued at approximately $8,578,459.59. This represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $82.17, for a total transaction of $41,085.00. Following the completion of the transaction, the director now directly owns 111,315 shares of the company’s stock, valued at $9,146,753.55. This trade represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,500 shares of company stock worth $752,665. Corporate insiders own 4.28% of the company’s stock.

Prosperity Bancshares Stock Performance

PB opened at $76.55 on Wednesday. The company has a market capitalization of $7.29 billion, a PE ratio of 15.13, a P/E/G ratio of 0.94 and a beta of 0.94. The stock’s fifty day moving average is $77.34 and its 200-day moving average is $76.11. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.75.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data 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%. On average, equities research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business 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 dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is currently 45.85%.

Wall Street Analysts Forecast Growth

PB has been the topic of a number of research reports. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. StockNews.com upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Stephens raised 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. UBS Group decreased their target price on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. Finally, Raymond James raised their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Seven investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.88.

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.