Smartleaf Asset Management LLC Boosts Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

Smartleaf Asset Management LLC boosted its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 487.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 376 shares of the bank’s stock after buying an additional 312 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Prosperity Bancshares were worth $28,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. US Bancorp DE boosted its stake in Prosperity Bancshares by 3.4% in the third quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock valued at $340,000 after acquiring an additional 153 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in Prosperity Bancshares by 26.6% in the third quarter. Crossmark Global Holdings Inc. now owns 6,485 shares of the bank’s stock valued at $467,000 after acquiring an additional 1,364 shares in the last quarter. Aigen Investment Management LP boosted its stake in Prosperity Bancshares by 91.2% in the third quarter. Aigen Investment Management LP now owns 7,925 shares of the bank’s stock valued at $571,000 after acquiring an additional 3,780 shares in the last quarter. MQS Management LLC boosted its stake in Prosperity Bancshares by 23.7% in the third quarter. MQS Management LLC now owns 5,828 shares of the bank’s stock valued at $420,000 after acquiring an additional 1,116 shares in the last quarter. Finally, KBC Group NV boosted its stake in Prosperity Bancshares by 15.4% in the third quarter. KBC Group NV now owns 2,824 shares of the bank’s stock valued at $204,000 after acquiring an additional 376 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at Prosperity Bancshares

In other Prosperity Bancshares news, Director Harrison Stafford II sold 4,000 shares of the 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 directly owns 107,137 shares of the company’s stock, valued at approximately $8,578,459.59. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $78.48, for a total transaction of $39,240.00. Following the completion of the transaction, the director now directly owns 110,815 shares of the company’s stock, valued at approximately $8,696,761.20. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,000 shares of company stock worth $706,870 over the last 90 days. Company insiders own 4.28% of the company’s stock.

Prosperity Bancshares Stock Down 0.6 %

Shares of NYSE:PB opened at $70.24 on Thursday. The company has a market cap of $6.69 billion, a P/E ratio of 13.88, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a 52 week low of $57.16 and a 52 week high of $86.76. The company has a 50-day moving average price of $77.08 and a 200 day moving average price of $76.34.

Prosperity Bancshares (NYSE:PB) last announced 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%. Analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Announces Dividend

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 given a $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 3.30%. Prosperity Bancshares’s payout ratio is currently 45.85%.

Analyst Ratings Changes

PB has been the subject of several research analyst reports. Raymond James upped their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. UBS Group decreased their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, December 26th. Wolfe Research reiterated a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Stephens increased their target price on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, StockNews.com upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday. 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, Prosperity Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $82.88.

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.