GTS Securities LLC Purchases Shares of 4,021 Prosperity Bancshares, Inc. (NYSE:PB)

GTS Securities LLC purchased a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,021 shares of the bank's stock, valued at approximately $303,000.

Other large investors have also made changes to their positions in the company. iSAM Funds UK Ltd grew its position in shares of Prosperity Bancshares by 11.1% during the 4th quarter. iSAM Funds UK Ltd now owns 13,540 shares of the bank's stock worth $1,020,000 after buying an additional 1,349 shares during the period. Squarepoint Ops LLC acquired a new position in Prosperity Bancshares in the fourth quarter valued at about $1,473,000. Sherbrooke Park Advisers LLC acquired a new position in Prosperity Bancshares in the fourth quarter valued at about $464,000. Port Capital LLC increased its holdings in shares of Prosperity Bancshares by 3.0% in the fourth quarter. Port Capital LLC now owns 539,093 shares of the bank's stock worth $40,621,000 after acquiring an additional 15,850 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Prosperity Bancshares by 1.4% during the fourth quarter. ProShare Advisors LLC now owns 456,575 shares of the bank's stock worth $34,403,000 after purchasing an additional 6,224 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Buying and Selling

In related news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $63.62, for a total transaction of $31,810.00. Following the completion of the transaction, the director now owns 102,815 shares in the company, valued at approximately $6,541,090.30. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 7,700 shares of company stock worth $537,759. Insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PB. Morgan Stanley decreased their price objective on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Jefferies Financial Group started coverage on shares of Prosperity Bancshares in a research note on Wednesday, May 21st. They issued a "buy" rating and a $85.00 price target on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Wall Street Zen upgraded shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Barclays cut their price objective on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Prosperity Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $83.80.

Prosperity Bancshares Trading Down 0.5%

Shares of NYSE PB traded down $0.37 during mid-day trading on Friday, hitting $69.75. The company had a trading volume of 581,014 shares, compared to its average volume of 594,688. The firm has a 50-day simple moving average of $68.75 and a two-hundred day simple moving average of $74.53. The company has a market capitalization of $6.64 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.94 and a beta of 0.70. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76.

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

Prosperity Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.32 dividend on an annualized basis and a yield of 3.33%. Prosperity Bancshares's payout ratio is 44.19%.

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.