Wealthspire Advisors LLC Grows Position in Prosperity Bancshares, Inc. (NYSE:PB)

Wealthspire Advisors LLC raised its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 2.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,474 shares of the bank’s stock after acquiring an additional 341 shares during the period. Wealthspire Advisors LLC’s holdings in Prosperity Bancshares were worth $1,317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PB. UMB Bank n.a. raised 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 valued at $45,000 after purchasing an additional 300 shares during the period. First Horizon Advisors Inc. grew its holdings in Prosperity Bancshares by 190.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock valued at $59,000 after buying an additional 534 shares in the last quarter. Blue Trust Inc. increased its position in shares of Prosperity Bancshares by 181.6% during the third quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock valued at $62,000 after buying an additional 554 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after buying an additional 143 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Prosperity Bancshares by 31.0% in the third quarter. Sunbelt Securities Inc. now owns 981 shares of the bank’s stock worth $71,000 after buying an additional 232 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Trading Down 0.3 %

Shares of NYSE PB opened at $76.24 on Tuesday. The stock’s 50-day moving average is $77.38 and its 200 day moving average is $76.06. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.75.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, topping the consensus estimate 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, analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

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 $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PB. Raymond James boosted their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. UBS Group reduced their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. Bank of America upgraded Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Tuesday, January 7th. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Finally, Stephens upped their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $83.04, for a total value of $41,520.00. Following the transaction, the director now owns 112,815 shares in the company, valued at approximately $9,368,157.60. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harrison Stafford II sold 4,000 shares of Prosperity Bancshares stock in a transaction on Friday, December 13th. The stock was sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the transaction, the director now directly owns 107,137 shares in the company, valued at approximately $8,578,459.59. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,000 shares of company stock worth $794,995 over the last three months. Company insiders own 4.28% of the company’s stock.

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.