Securian Asset Management Inc. Sells 206 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Securian Asset Management Inc. cut its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,201 shares of the bank’s stock after selling 206 shares during the period. Securian Asset Management Inc.’s holdings in Prosperity Bancshares were worth $543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its stake in shares of Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock valued at $28,000 after acquiring an additional 312 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock valued at $39,000 after purchasing an additional 409 shares during the period. UMB Bank n.a. boosted its stake in Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after acquiring an additional 300 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Prosperity Bancshares by 190.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after purchasing an additional 534 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after buying an additional 143 shares during the period. 80.69% of the stock is owned by institutional investors.

Prosperity Bancshares Trading Down 0.3 %

Shares of NYSE:PB opened at $70.84 on Tuesday. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The stock has a market capitalization of $6.75 billion, a PE ratio of 14.00, a PEG ratio of 0.94 and a beta of 0.94. The firm has a 50 day moving average of $76.71 and a 200-day moving average of $76.27.

Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, January 29th. The bank reported $1.37 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%. On average, research analysts predict 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. 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 3.28%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 45.85%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Bank of America raised Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Tuesday, January 7th. Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. UBS Group lowered their price target on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th. Morgan Stanley dropped their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Stephens lifted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.63, for a total transaction of $35,315.00. Following the completion of the sale, the director now owns 104,815 shares of the company’s stock, valued at approximately $7,403,083.45. This represents a 0.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 5,500 shares of company stock valued at $421,905 in the last ninety days. 4.28% of the stock is currently owned by insiders.

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.