Prosperity Bancshares, Inc. (NYSE:PB) Holdings Cut by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,415 shares of the bank’s stock after selling 2,245 shares during the period. Los Angeles Capital Management LLC owned 0.07% of Prosperity Bancshares worth $4,854,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Creative Planning grew its position in shares of Prosperity Bancshares by 17.2% during the third quarter. Creative Planning now owns 3,909 shares of the bank’s stock worth $282,000 after acquiring an additional 574 shares during the last quarter. Blue Trust Inc. boosted its stake in Prosperity Bancshares by 181.6% during the 3rd quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock valued at $62,000 after purchasing an additional 554 shares during the period. Raymond James & Associates grew its position in Prosperity Bancshares by 7.0% in the 3rd quarter. Raymond James & Associates now owns 31,942 shares of the bank’s stock worth $2,302,000 after purchasing an additional 2,082 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Prosperity Bancshares by 10.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,193 shares of the bank’s stock valued at $446,000 after purchasing an additional 610 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in shares of Prosperity Bancshares by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 11,182 shares of the bank’s stock valued at $805,000 after buying an additional 750 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Harrison Stafford II sold 4,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the sale, the director now directly owns 107,137 shares in the company, valued at approximately $8,578,459.59. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $74.12, for a total value of $37,060.00. Following the completion of the transaction, the director now owns 109,315 shares in the company, valued at $8,102,427.80. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,500 shares of company stock worth $752,665 over the last ninety days. 4.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on PB. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Raymond James raised their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Barclays raised their target price on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Finally, Stephens upped 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. 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, Prosperity Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Prosperity Bancshares Stock Performance

Prosperity Bancshares stock opened at $76.72 on Friday. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.75. The firm’s 50 day moving average price is $77.36 and its two-hundred day moving average price is $76.11.

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, 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%. As a group, equities analysts predict that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

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.