4,021 Shares in Prosperity Bancshares, Inc. (NYSE:PB) Acquired by GTS Securities LLC

GTS Securities LLC acquired a new stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,021 shares of the bank's stock, valued at approximately $303,000.

Several other large investors have also recently added to or reduced their stakes in PB. Blue Trust Inc. raised its holdings in shares of Prosperity Bancshares by 14.9% in the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank's stock valued at $71,000 after purchasing an additional 128 shares in the last quarter. KBC Group NV grew its position in shares of Prosperity Bancshares by 45.1% in the 4th quarter. KBC Group NV now owns 4,099 shares of the bank's stock valued at $309,000 after buying an additional 1,275 shares during the last quarter. Pacer Advisors Inc. raised its stake in Prosperity Bancshares by 1.8% during the 4th quarter. Pacer Advisors Inc. now owns 14,202 shares of the bank's stock worth $1,070,000 after acquiring an additional 247 shares in the last quarter. Hodges Capital Management Inc. raised its stake in Prosperity Bancshares by 4.9% during the 4th quarter. Hodges Capital Management Inc. now owns 147,231 shares of the bank's stock worth $11,094,000 after acquiring an additional 6,902 shares in the last quarter. Finally, Trust Point Inc. boosted its stake in Prosperity Bancshares by 40.2% in the fourth quarter. Trust Point Inc. now owns 4,770 shares of the bank's stock valued at $359,000 after acquiring an additional 1,367 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $70.34, for a total transaction of $35,170.00. Following the sale, the director now owns 100,915 shares in the company, valued at $7,098,361.10. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 7,700 shares of company stock valued at $537,759 in the last 90 days. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen upgraded Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Hovde Group dropped their price target on Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Barclays reduced their price objective on Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley lowered their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Royal Bank of Canada cut their target price on shares of Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Prosperity Bancshares presently has an average rating of "Moderate Buy" and an average target price of $83.80.

Prosperity Bancshares Trading Up 1.1%

Shares of PB traded up $0.75 during mid-day trading on Tuesday, hitting $69.78. The company's stock had a trading volume of 755,621 shares, compared to its average volume of 595,934. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76. The firm has a market capitalization of $6.65 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.94 and a beta of 0.68. The firm has a 50-day simple moving average of $68.66 and a 200 day simple moving average of $74.35.

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

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares's dividend payout ratio (DPR) is 44.19%.

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.