Amarillo National Bank Sells 10,782 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Amarillo National Bank decreased its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,046 shares of the bank’s stock after selling 10,782 shares during the quarter. Prosperity Bancshares comprises 1.0% of Amarillo National Bank’s holdings, making the stock its 21st largest holding. Amarillo National Bank owned 0.07% of Prosperity Bancshares worth $5,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Prosperity Bancshares by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank’s stock worth $123,162,000 after buying an additional 15,309 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Prosperity Bancshares by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,183,295 shares of the bank’s stock worth $85,280,000 after purchasing an additional 6,518 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Prosperity Bancshares by 6.4% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 889,219 shares of the bank’s stock worth $67,002,000 after purchasing an additional 53,654 shares during the last quarter. Verition Fund Management LLC boosted its position in Prosperity Bancshares by 0.5% in the third quarter. Verition Fund Management LLC now owns 834,701 shares of the bank’s stock worth $60,157,000 after purchasing an additional 3,978 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Prosperity Bancshares by 0.9% in the third quarter. Thrivent Financial for Lutherans now owns 818,744 shares of the bank’s stock worth $59,007,000 after purchasing an additional 6,972 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $74.12, for a total transaction of $37,060.00. Following the sale, the director now owns 109,315 shares of the company’s stock, valued at approximately $8,102,427.80. The trade was a 0.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of Prosperity Bancshares stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $86.50, for a total transaction of $346,000.00. Following the sale, the chairman now directly owns 229,953 shares in the company, valued at $19,890,934.50. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,600 shares of company stock worth $1,273,279 in the last 90 days. 4.28% of the stock is owned by company insiders.

Prosperity Bancshares Stock Down 0.3 %

Shares of NYSE PB opened at $77.81 on Friday. The firm has a market capitalization of $7.41 billion, a P/E ratio of 15.38, a P/E/G ratio of 0.98 and a beta of 0.94. The stock’s 50-day simple moving average is $77.79 and its two-hundred day simple moving average is $75.72. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.75.

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

Prosperity Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays boosted their price objective on 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 upped their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Prosperity Bancshares in a research report on Thursday, October 24th. StockNews.com raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, UBS Group dropped 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. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.88.

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.