Prosperity Bancshares, Inc. (NYSE:PB) Stock Holdings Lowered by CFO4Life Group LLC

CFO4Life Group LLC lowered its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,049 shares of the bank’s stock after selling 1,199 shares during the period. CFO4Life Group LLC’s holdings in Prosperity Bancshares were worth $2,189,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Avantax Advisory Services Inc. grew its position in shares of Prosperity Bancshares by 45.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 7,281 shares of the bank’s stock worth $549,000 after acquiring an additional 2,263 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Prosperity Bancshares by 18.9% in the fourth quarter. HighTower Advisors LLC now owns 25,756 shares of the bank’s stock worth $1,941,000 after purchasing an additional 4,096 shares during the period. Wealthfront Advisers LLC acquired a new stake in Prosperity Bancshares in the fourth quarter worth about $1,288,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Prosperity Bancshares by 5.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,358 shares of the bank’s stock worth $1,233,000 after purchasing an additional 841 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Prosperity Bancshares in the fourth quarter worth about $8,643,000. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $80.01, for a total value of $40,005.00. Following the transaction, the director now owns 107,315 shares in the company, valued at $8,586,273.15. 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 at this link. Also, Director Harrison Stafford II sold 4,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $80.07, for a total value of $320,280.00. Following the completion of the transaction, the director now owns 107,137 shares in the company, valued at $8,578,459.59. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,000 shares of company stock valued at $706,870. 4.28% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PB shares. Stephens upped their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Tuesday, January 7th. Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Raymond James upped their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a report 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Prosperity Bancshares Trading Down 0.6 %

PB stock opened at $70.24 on Thursday. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76. The firm has a market capitalization of $6.69 billion, a PE ratio of 13.88, a P/E/G ratio of 0.94 and a beta of 0.94. The firm has a 50-day moving average of $77.08 and a two-hundred day moving average of $76.34.

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

Prosperity Bancshares Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

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.