First Horizon Advisors Inc. Raises Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

First Horizon Advisors Inc. lifted its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 23.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,010 shares of the bank’s stock after purchasing an additional 195 shares during the quarter. First Horizon Advisors Inc.’s holdings in Prosperity Bancshares were worth $76,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. increased its holdings in Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after buying an additional 300 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after acquiring an additional 143 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Prosperity Bancshares by 181.6% in the third quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock worth $62,000 after acquiring an additional 554 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Prosperity Bancshares by 31.0% during the third quarter. Sunbelt Securities Inc. now owns 981 shares of the bank’s stock valued at $71,000 after purchasing an additional 232 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Prosperity Bancshares by 5,602.9% during the fourth quarter. Venturi Wealth Management LLC now owns 1,939 shares of the bank’s stock valued at $146,000 after purchasing an additional 1,905 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Price Performance

PB opened at $76.72 on Friday. The firm has a market cap of $7.31 billion, a P/E ratio of 15.16, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.75. The company has a 50 day simple moving average of $77.36 and a two-hundred day simple moving average of $76.11.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.58 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.02%. Prosperity Bancshares’s payout ratio is currently 45.85%.

Insiders Place Their Bets

In related news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $78.30, for a total transaction of $39,150.00. Following the completion of the transaction, the director now owns 106,815 shares in the company, valued at approximately $8,363,614.50. This represents a 0.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harrison Stafford II sold 4,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $80.07, for a total transaction of $320,280.00. Following the transaction, the director now owns 107,137 shares of the company’s stock, valued at approximately $8,578,459.59. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,500 shares of company stock worth $752,665 over the last three months. 4.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on PB shares. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Stephens boosted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Barclays boosted their price objective 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. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Finally, 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 report on Thursday, December 26th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Prosperity Bancshares Company 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.