91,393 Shares in Prosperity Bancshares, Inc. $PB Purchased by First National Bank of Omaha

Key Points

• First National Bank of Omaha bought 91,393 shares of Prosperity Bancshares in the fourth quarter, a stake valued at about $6.39 million and representing roughly 0.10% ownership.
• Prosperity Bancshares recently beat earnings expectations, reporting $1.50 EPS versus the $1.41 consensus, while quarterly revenue rose 19.9% year over year to $367.62 million.
• The company declared a quarterly dividend of $0.60 per share, which annualizes to $2.40 and implies a yield of about 3.3%.

First National Bank of Omaha purchased a new position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 91,393 shares of the bank's stock, valued at approximately $6,390,000. First National Bank of Omaha owned approximately 0.10% of Prosperity Bancshares as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Community Bank N.A. acquired a new position in Prosperity Bancshares in the third quarter worth about $29,000. Danske Bank A S acquired a new position in Prosperity Bancshares in the third quarter worth about $40,000. SouthState Bank Corp acquired a new position in Prosperity Bancshares in the fourth quarter worth about $49,000. Osaic Holdings Inc. grew its stake in Prosperity Bancshares by 34.9% in the second quarter. Osaic Holdings Inc. now owns 719 shares of the bank's stock worth $51,000 after purchasing an additional 186 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Prosperity Bancshares in the fourth quarter worth about $55,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Prosperity Bancshares Stock Performance

Shares of PB stock opened at $72.64 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $68.95 and a two-hundred day moving average of $69.80. Prosperity Bancshares, Inc. has a 52 week low of $61.06 and a 52 week high of $77.20. The company has a market cap of $7.33 billion, a P/E ratio of 13.16, a PEG ratio of 1.10 and a beta of 0.64.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its earnings results on Wednesday, April 29th. The bank reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.09. Prosperity Bancshares had a return on equity of 7.20% and a net margin of 29.50%.The company had revenue of $367.62 million during the quarter, compared to the consensus estimate of $358.60 million. During the same period in the previous year, the firm posted $1.37 earnings per share. Prosperity Bancshares's quarterly revenue was up 19.9% compared to the same quarter last year. As a group, analysts anticipate that Prosperity Bancshares, Inc. will post 6.27 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, June 15th. Prosperity Bancshares's payout ratio is presently 43.48%.

Wall Street Analysts Forecast Growth

PB has been the subject of a number of research reports. Wall Street Zen upgraded Prosperity Bancshares from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 16th. Citigroup lifted their price target on Prosperity Bancshares from $72.00 to $74.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Weiss Ratings downgraded Prosperity Bancshares from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. TD Cowen lifted their price target on Prosperity Bancshares from $77.00 to $79.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Finally, Cantor Fitzgerald lifted their target price on Prosperity Bancshares from $81.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $76.82.

Insider Buying and Selling

In other news, Director Ned S. Holmes sold 600 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $64.29, for a total transaction of $38,574.00. Following the completion of the transaction, the director directly owned 41,400 shares in the company, valued at approximately $2,661,606. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 14,300 shares of company stock valued at $978,402 in the last three months. Insiders own 3.96% of the company's stock.

Prosperity Bancshares Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.

Want to see what other hedge funds are holding PB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prosperity Bancshares, Inc. (NYSE:PB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.