Prosperity Bancshares, Inc. (NYSE:PB) Shares Acquired by Olistico Wealth LLC

Olistico Wealth LLC increased its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 93.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,872 shares of the bank’s stock after purchasing an additional 1,388 shares during the quarter. Olistico Wealth LLC’s holdings in Prosperity Bancshares were worth $216,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PB. Quarry LP increased its holdings in Prosperity Bancshares by 533.3% in the second quarter. Quarry LP now owns 494 shares of the bank’s stock valued at $30,000 after buying an additional 416 shares during the last quarter. UMB Bank n.a. raised its position in shares of Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC lifted its stake in Prosperity Bancshares by 47.9% during the third quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock worth $51,000 after purchasing an additional 227 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Prosperity Bancshares by 190.0% during the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after purchasing an additional 534 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Prosperity Bancshares by 181.6% in the third quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock valued at $62,000 after purchasing an additional 554 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $81.44, for a total value of $40,720.00. Following the completion of the transaction, the director now directly owns 113,815 shares in the company, valued at approximately $9,269,093.60. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $86.50, for a total value of $346,000.00. Following the completion of the sale, the chairman now directly owns 229,953 shares in the company, valued at approximately $19,890,934.50. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,100 shares of company stock worth $1,156,639 over the last three months. 4.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Prosperity Bancshares in a research report on Thursday, October 24th. StockNews.com downgraded Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Finally, Bank of America upgraded Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $81.38.

Prosperity Bancshares Stock Down 0.7 %

Shares of NYSE PB opened at $78.84 on Thursday. The firm has a 50-day moving average price of $79.07 and a 200 day moving average price of $74.32. Prosperity Bancshares, Inc. has a 52 week low of $57.16 and a 52 week high of $86.75. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. The business had revenue of $459.00 million during the quarter, compared to the consensus estimate of $299.83 million. During the same quarter in the previous year, the company posted $1.20 EPS. Equities research analysts expect that Prosperity Bancshares, Inc. will post 5.05 EPS 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 paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.94%. Prosperity Bancshares’s payout ratio is currently 49.26%.

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.