Prosperity Bancshares, Inc. (NYSE:PB) Shares Acquired by Captrust Financial Advisors

Captrust Financial Advisors lifted its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,848 shares of the bank’s stock after purchasing an additional 341 shares during the quarter. Captrust Financial Advisors’ holdings in Prosperity Bancshares were worth $421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PB. Amica Mutual Insurance Co. grew its stake in Prosperity Bancshares by 41.9% in the 2nd quarter. Amica Mutual Insurance Co. now owns 157,770 shares of the bank’s stock valued at $9,646,000 after acquiring an additional 46,593 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Prosperity Bancshares in the 3rd quarter valued at about $4,804,000. Prospector Partners LLC grew its stake in Prosperity Bancshares by 24.6% in the 3rd 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 during the last quarter. Thrivent Financial for Lutherans grew its stake in Prosperity Bancshares by 16.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 811,772 shares of the bank’s stock valued at $49,632,000 after acquiring an additional 112,101 shares during the last quarter. Finally, US Bancorp DE grew its stake in Prosperity Bancshares by 3.4% in the 3rd quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock valued at $340,000 after acquiring an additional 153 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $81.44, for a total value of $40,720.00. Following the completion of the sale, the director now owns 113,815 shares of the company’s stock, valued at $9,269,093.60. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leah Henderson sold 1,100 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $83.24, for a total transaction of $91,564.00. Following the completion of the sale, the director now directly owns 7,525 shares of the company’s stock, valued at $626,381. This trade represents a 12.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,600 shares of company stock valued at $645,199 over the last 90 days. 4.28% of the stock is owned by corporate insiders.

Prosperity Bancshares Stock Performance

NYSE PB opened at $81.04 on Friday. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.75. The company’s 50 day moving average price is $77.96 and its 200 day moving average price is $70.90. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.22 and a beta of 0.92.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. The firm had revenue of $459.00 million for the quarter, compared to analyst estimates of $299.83 million. During the same quarter last year, the firm posted $1.20 earnings per share. Sell-side analysts forecast that Prosperity Bancshares, Inc. will post 5.05 EPS for the current fiscal year.

Prosperity Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.58 dividend. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.32 annualized dividend and a yield of 2.86%. Prosperity Bancshares’s dividend payout ratio (DPR) is 49.26%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PB shares. Hovde Group increased their price objective on shares of Prosperity Bancshares from $80.50 to $82.50 and gave the company an “outperform” rating in a research note on Monday, August 26th. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $77.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. Finally, Barclays upped their target price on shares of Prosperity Bancshares from $76.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Prosperity Bancshares currently has an average rating of “Moderate Buy” and an average target price of $80.68.

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.