Yousif Capital Management LLC Has $2.51 Million Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

Yousif Capital Management LLC lessened its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 4.0% in the 4th quarter, HoldingsChannel reports. The fund owned 33,349 shares of the bank’s stock after selling 1,396 shares during the quarter. Yousif Capital Management LLC’s holdings in Prosperity Bancshares were worth $2,513,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in shares of Prosperity Bancshares in the third quarter valued at approximately $16,478,000. Jane Street Group LLC increased its stake in shares of Prosperity Bancshares by 418.0% in the 3rd quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock valued at $8,039,000 after buying an additional 90,015 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Prosperity Bancshares during the third quarter worth $4,804,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Prosperity Bancshares by 21.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 272,331 shares of the bank’s stock valued at $19,627,000 after acquiring an additional 48,719 shares during the period. Finally, Prospector Partners LLC boosted its holdings in 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 during the last quarter. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Wedbush restated an “outperform” rating and issued a $90.00 price objective on shares of Prosperity Bancshares in a report on Thursday, October 24th. Raymond James lifted their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Stephens increased their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Bank of America raised Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Prosperity Bancshares Price Performance

NYSE PB opened at $79.96 on Monday. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.75. The firm has a market cap of $7.62 billion, a P/E ratio of 15.80, a P/E/G ratio of 0.98 and a beta of 0.94. The stock’s 50-day moving average is $78.24 and its 200-day moving average is $75.54.

Prosperity Bancshares (NYSE:PB) last announced 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%. Equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS for the current 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 paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s payout ratio is presently 45.85%.

Insiders Place Their Bets

In related news, Director Ned S. Holmes sold 500 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $80.01, for a total transaction of $40,005.00. Following the completion of the transaction, the director now owns 107,315 shares in the company, valued at approximately $8,586,273.15. This represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $86.50, for a total transaction of $346,000.00. Following the completion of the transaction, the chairman now directly owns 229,953 shares of the company’s stock, valued at approximately $19,890,934.50. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,600 shares of company stock worth $1,276,109. Corporate 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.