Trust Point Inc. Increases Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Trust Point Inc. grew its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 40.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,770 shares of the bank’s stock after acquiring an additional 1,367 shares during the period. Trust Point Inc.’s holdings in Prosperity Bancshares were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in shares of Prosperity Bancshares in the third quarter valued at about $4,804,000. Prospector Partners LLC lifted its position in shares of Prosperity Bancshares by 24.6% in the third quarter. Prospector Partners LLC now owns 228,992 shares of the bank’s stock valued at $16,503,000 after acquiring an additional 45,177 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Prosperity Bancshares by 0.9% in the third quarter. Thrivent Financial for Lutherans now owns 818,744 shares of the bank’s stock valued at $59,007,000 after acquiring an additional 6,972 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Prosperity Bancshares in the third quarter worth about $372,000. Finally, US Bancorp DE lifted its position in shares of Prosperity Bancshares by 3.4% in the third quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock worth $340,000 after buying an additional 153 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Prosperity Bancshares Stock Performance

PB opened at $80.64 on Thursday. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 0.97 and a beta of 0.94. The stock’s 50 day moving average price is $78.39 and its 200-day moving average price is $75.36. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.75.

Prosperity Bancshares (NYSE:PB) last released its earnings results 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 return on equity of 6.64% and a net margin of 26.79%. As a group, analysts predict that Prosperity Bancshares, Inc. will post 5.8 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.58 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 2.88%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 45.85%.

Analyst Ratings Changes

A number of equities research analysts recently commented on PB shares. StockNews.com upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. UBS Group decreased their target price 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. DA Davidson downgraded Prosperity Bancshares from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $78.00 in a research report on Tuesday, October 15th. Barclays boosted their target price 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. Finally, Bank of America upgraded Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Insider Buying and Selling

In related news, Chairman H E. Timanus, Jr. sold 4,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $86.50, for a total value of $346,000.00. Following the transaction, the chairman now owns 229,953 shares of the company’s stock, valued at $19,890,934.50. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ned S. Holmes sold 500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.96, for a total value of $41,980.00. Following the completion of the transaction, the director now directly owns 114,315 shares in the company, valued at approximately $9,597,887.40. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,100 shares of company stock valued at $1,236,104 over the last quarter. 4.28% of the stock is owned by corporate insiders.

About Prosperity Bancshares

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.