World Investment Advisors Sells 1,100 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

World Investment Advisors decreased its position in Prosperity Bancshares, Inc. (NYSE:PB) by 4.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 26,733 shares of the bank’s stock after selling 1,100 shares during the period. World Investment Advisors’ holdings in Prosperity Bancshares were worth $2,014,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in Prosperity Bancshares by 1.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,342,047 shares of the bank’s stock worth $176,473,000 after acquiring an additional 32,917 shares during the last quarter. Trexquant Investment LP grew its stake in shares of Prosperity Bancshares by 18.4% in the fourth quarter. Trexquant Investment LP now owns 12,108 shares of the bank’s stock worth $912,000 after purchasing an additional 1,879 shares during the last quarter. Franklin Resources Inc. increased its holdings in Prosperity Bancshares by 29.8% during the 4th quarter. Franklin Resources Inc. now owns 44,677 shares of the bank’s stock valued at $3,366,000 after purchasing an additional 10,266 shares during the period. Alliancebernstein L.P. raised its position in Prosperity Bancshares by 31.6% during the 4th quarter. Alliancebernstein L.P. now owns 162,706 shares of the bank’s stock valued at $12,260,000 after purchasing an additional 39,100 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in Prosperity Bancshares by 20.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,784 shares of the bank’s stock valued at $285,000 after purchasing an additional 632 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $78.43, for a total value of $39,215.00. Following the completion of the transaction, the director now owns 108,815 shares in the company, valued at $8,534,360.45. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 5,500 shares of company stock valued at $413,945. 4.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group reduced their target price on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Raymond James boosted their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Barclays raised their target price on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Stephens boosted their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $83.50.

Prosperity Bancshares Trading Down 2.6 %

NYSE PB opened at $64.38 on Friday. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The stock has a market cap of $6.13 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.94 and a beta of 0.82. The stock’s fifty day moving average price is $74.82 and its 200-day moving average price is $76.00.

Prosperity Bancshares (NYSE:PB) last announced its quarterly 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 net margin of 26.79% and a return on equity of 6.64%. As a group, analysts forecast that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.58 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 3.60%. Prosperity Bancshares’s payout ratio is currently 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.