Barclays PLC Has $8.84 Million Position in Prosperity Bancshares, Inc. (NYSE:PB)

Barclays PLC grew its position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 26.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,355 shares of the bank's stock after buying an additional 24,812 shares during the quarter. Barclays PLC owned 0.12% of Prosperity Bancshares worth $8,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Prosperity Bancshares by 14.9% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank's stock valued at $71,000 after buying an additional 128 shares during the period. CIBC Private Wealth Group LLC boosted its position in Prosperity Bancshares by 4.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,069 shares of the bank's stock worth $229,000 after purchasing an additional 128 shares during the period. GAMMA Investing LLC increased its position in shares of Prosperity Bancshares by 20.4% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock valued at $64,000 after purchasing an additional 143 shares during the period. Sanctuary Advisors LLC raised its position in Prosperity Bancshares by 3.8% in the 4th 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. raised its position 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 acquiring an additional 195 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $80.01, for a total value of $40,005.00. Following the completion of the sale, the director now owns 107,315 shares in the company, valued at $8,586,273.15. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 5,500 shares of company stock valued at $396,700 over the last 90 days. Corporate insiders own 4.20% of the company's stock.

Prosperity Bancshares Stock Performance

Shares of NYSE PB traded up $0.06 during trading hours on Tuesday, hitting $67.79. 57,443 shares of the stock were exchanged, compared to its average volume of 571,246. The company's fifty day simple moving average is $70.00 and its two-hundred day simple moving average is $75.32. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76. The company has a market cap of $6.46 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.02. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. The business had revenue of $306.68 million during the quarter, compared to analyst estimates of $307.17 million. During the same quarter in the previous year, the firm earned $1.18 EPS. The company's quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares's payout ratio is currently 44.19%.

Analysts Set New Price Targets

A number of research firms have commented on PB. Raymond James lifted their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. StockNews.com lowered Prosperity Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. Bank of America upgraded Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a research report on Tuesday, January 7th. Morgan Stanley cut their price target on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Royal Bank of Canada reduced their price objective on shares of Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. One investment 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $83.23.

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.