Prosperity Bancshares, Inc. (NYSE:PB) Stock Holdings Cut by Cambiar Investors LLC

Cambiar Investors LLC reduced its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,941 shares of the bank’s stock after selling 2,655 shares during the quarter. Cambiar Investors LLC’s holdings in Prosperity Bancshares were worth $2,331,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PB. UMB Bank n.a. boosted its stake in shares of Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Prosperity Bancshares by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock worth $51,000 after acquiring an additional 227 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Prosperity Bancshares by 190.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after acquiring an additional 534 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Prosperity Bancshares by 181.6% during the 3rd quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock worth $62,000 after acquiring an additional 554 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in shares of Prosperity Bancshares by 31.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 981 shares of the bank’s stock worth $71,000 after acquiring an additional 232 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Activity at Prosperity Bancshares

In related news, Director Leah Henderson sold 1,100 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $83.24, for a total transaction of $91,564.00. Following the transaction, the director now directly owns 7,525 shares in the company, valued at $626,381. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.96, for a total value of $41,980.00. Following the transaction, the director now owns 114,315 shares in the company, valued at $9,597,887.40. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,600 shares of company stock worth $1,276,109 over the last three months. Company insiders own 4.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $90.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $77.00 price objective on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Bank of America raised Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a research report on Tuesday, January 7th. DA Davidson cut Prosperity Bancshares from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $80.00 to $78.00 in a research report on Tuesday, October 15th. Finally, Stephens boosted their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Prosperity Bancshares Stock Performance

NYSE PB opened at $78.73 on Tuesday. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.75. The stock has a market capitalization of $7.50 billion, a PE ratio of 15.56, a P/E/G ratio of 0.98 and a beta of 0.94. The stock has a 50-day simple moving average of $78.14 and a 200 day simple moving average of $75.58.

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

Prosperity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 2.95%. Prosperity Bancshares’s dividend payout ratio is 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.