Prosperity Bancshares, Inc. (NYSE:PB) Position Increased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 45.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,281 shares of the bank’s stock after acquiring an additional 2,263 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Prosperity Bancshares were worth $549,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PB. Blue Trust Inc. boosted its position in Prosperity Bancshares by 14.9% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank’s stock worth $71,000 after acquiring an additional 128 shares during the period. GAMMA Investing LLC increased its stake in shares of Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after acquiring an additional 143 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Prosperity Bancshares by 0.3% during the third quarter. M&T Bank Corp now owns 45,392 shares of the bank’s stock worth $3,272,000 after acquiring an additional 149 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Prosperity Bancshares by 3.8% during the fourth quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank’s stock valued at $430,000 after purchasing an additional 194 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Prosperity Bancshares by 23.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank’s stock valued at $76,000 after buying an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Stock Down 0.1 %

Prosperity Bancshares stock opened at $70.49 on Friday. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. The business has a 50 day moving average price of $76.43 and a two-hundred day moving average price of $76.17.

Prosperity Bancshares (NYSE:PB) last issued 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 return on equity of 6.64% and a net margin of 26.79%. On average, analysts expect 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 given a dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 3.29%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

Insider Activity at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $75.25, for a total transaction of $37,625.00. Following the completion of the sale, the director now directly owns 109,815 shares of the company’s stock, valued at $8,263,578.75. This trade represents a 0.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 5,500 shares of company stock valued at $418,095 in the last 90 days. 4.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PB. Barclays raised their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Morgan Stanley lowered their price objective on Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Bank of America upgraded Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a report on Tuesday, January 7th. StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.