Prosperity Bancshares, Inc. (NYSE:PB) Shares Bought by First Financial Bankshares Inc

First Financial Bankshares Inc lifted its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 8.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,778 shares of the bank’s stock after purchasing an additional 1,224 shares during the period. First Financial Bankshares Inc’s holdings in Prosperity Bancshares were worth $1,189,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV raised its position in shares of Prosperity Bancshares by 15.4% during the third quarter. KBC Group NV now owns 2,824 shares of the bank’s stock worth $204,000 after purchasing an additional 376 shares during the period. Natixis Advisors LLC raised its holdings in Prosperity Bancshares by 9.5% during the 3rd quarter. Natixis Advisors LLC now owns 212,125 shares of the bank’s stock worth $15,288,000 after buying an additional 18,424 shares during the period. Thrivent Financial for Lutherans raised its holdings in Prosperity Bancshares by 0.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 818,744 shares of the bank’s stock worth $59,007,000 after buying an additional 6,972 shares during the period. Swiss National Bank lifted its stake in Prosperity Bancshares by 1.8% during the third quarter. Swiss National Bank now owns 187,367 shares of the bank’s stock valued at $13,504,000 after buying an additional 3,300 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Prosperity Bancshares in the third quarter worth about $574,000. 80.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $76.04, for a total value of $38,020.00. Following the transaction, the director now owns 110,315 shares of the company’s stock, valued at $8,388,352.60. This trade represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 5,000 shares of company stock valued at $382,665 over the last 90 days. 4.28% of the stock is currently owned by company insiders.

Prosperity Bancshares Stock Down 0.5 %

Shares of PB opened at $70.49 on Wednesday. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The company’s fifty day moving average is $76.64 and its 200-day moving average is $76.25. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last posted its 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%. As a group, research analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.29%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 45.85%.

Analyst Ratings Changes

Several brokerages recently commented on PB. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Tuesday, January 7th. Stephens increased their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Raymond James upped their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, UBS Group reduced their price objective on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, December 26th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.50.

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.