Prosperity Bancshares, Inc. (NYSE:PB) Stock Position Lifted by Xponance Inc.

Xponance Inc. increased its position in Prosperity Bancshares, Inc. (NYSE:PB) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,629 shares of the bank’s stock after buying an additional 566 shares during the period. Xponance Inc.’s holdings in Prosperity Bancshares were worth $801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Point72 Asset Management L.P. acquired a new stake in Prosperity Bancshares in the 3rd quarter worth approximately $16,478,000. Raymond James Financial Inc. acquired a new position in Prosperity Bancshares during the 4th quarter worth $8,643,000. Jane Street Group LLC boosted its stake in Prosperity Bancshares by 418.0% during the 3rd quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock valued at $8,039,000 after purchasing an additional 90,015 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Prosperity Bancshares in the fourth quarter valued at approximately $5,463,000. Finally, Boston Partners grew its position in Prosperity Bancshares by 32.6% in the 4th quarter. Boston Partners now owns 255,380 shares of the bank’s stock worth $19,249,000 after purchasing an additional 62,746 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on PB shares. Barclays lifted their price objective on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Raymond James raised their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Stephens lifted their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a 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 issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $83.50.

Insider Buying and Selling at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $76.04, for a total value of $38,020.00. Following the completion of the transaction, the director now directly owns 110,315 shares of the company’s stock, valued at approximately $8,388,352.60. The trade was a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 5,500 shares of company stock valued at $418,095. Corporate insiders own 4.28% of the company’s stock.

Prosperity Bancshares Stock Performance

Shares of PB stock opened at $72.21 on Tuesday. The firm’s 50 day moving average price is $76.37 and its two-hundred day moving average price is $76.19. The stock has a market cap of $6.88 billion, a PE ratio of 14.27, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.76.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data 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 return on equity of 6.64% and a net margin of 26.79%. As a group, sell-side analysts predict 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 will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s dividend 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.