Prosperity Bancshares, Inc. (NYSE:PB) Holdings Lowered by Sepio Capital LP

Sepio Capital LP lowered its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,271 shares of the bank’s stock after selling 239 shares during the quarter. Sepio Capital LP’s holdings in Prosperity Bancshares were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PB. Smartleaf Asset Management LLC lifted its stake in Prosperity Bancshares by 487.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after acquiring an additional 312 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Prosperity Bancshares by 368.5% in 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. lifted its position in shares of Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC grew its position in Prosperity Bancshares by 20.4% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after purchasing an additional 143 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its stake in Prosperity Bancshares by 31.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 981 shares of the bank’s stock valued at $71,000 after buying an additional 232 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In related news, Director Ned S. Holmes sold 500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $78.43, for a total transaction of $39,215.00. Following the completion of the sale, the director now owns 108,815 shares in the company, valued at $8,534,360.45. This represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 5,500 shares of company stock valued at $413,945. 4.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on PB. Morgan Stanley decreased their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Barclays boosted their target price on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Stephens upped their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. StockNews.com lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 19th. Finally, Raymond James increased their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.50.

Prosperity Bancshares Stock Performance

PB opened at $64.38 on Monday. The firm has a market cap of $6.13 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The business has a 50 day moving average price of $74.82 and a 200 day moving average price of $76.04. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.76.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share 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 anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

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