First Financial Bankshares Inc Grows Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

First Financial Bankshares Inc grew its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,778 shares of the bank’s stock after purchasing an additional 1,224 shares during the period. First Financial Bankshares Inc’s holdings in Prosperity Bancshares were worth $1,189,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in Prosperity Bancshares by 487.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after buying an additional 312 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Prosperity Bancshares by 368.5% in the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock worth $39,000 after acquiring an additional 409 shares in the last quarter. UMB Bank n.a. boosted its holdings in Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after purchasing an additional 300 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Prosperity Bancshares by 190.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock valued at $59,000 after purchasing an additional 534 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after purchasing an additional 143 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was 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. The trade was a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 5,000 shares of company stock worth $382,665. Insiders own 4.28% of the company’s stock.

Prosperity Bancshares Trading Down 0.5 %

Shares of Prosperity Bancshares stock opened at $70.49 on Wednesday. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.76. The business’s 50 day simple moving average is $76.64 and its 200-day simple moving average is $76.25.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share 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%. Sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The company also recently announced 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. This represents a $2.32 annualized dividend and a yield of 3.29%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is 45.85%.

Wall Street Analyst Weigh In

PB has been the subject of several research analyst reports. StockNews.com upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Stephens increased their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Barclays upped their target price on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Finally, UBS Group decreased their price target on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, December 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.50.

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.