Nomura Holdings Inc. Invests $952,000 in Prosperity Bancshares, Inc. (NYSE:PB)

Nomura Holdings Inc. acquired a new position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,641 shares of the bank's stock, valued at approximately $952,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PB. Smartleaf Asset Management LLC grew its position in Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock worth $28,000 after purchasing an additional 312 shares during the last quarter. Jones Financial Companies Lllp grew its position in Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after purchasing an additional 409 shares during the last quarter. UMB Bank n.a. grew its position in Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock worth $45,000 after purchasing an additional 300 shares during the last quarter. Aster Capital Management DIFC Ltd grew its position in Prosperity Bancshares by 349.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after purchasing an additional 713 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Prosperity Bancshares by 14.9% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank's stock worth $71,000 after purchasing an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PB. Morgan Stanley dropped 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. Hovde Group dropped their price objective on shares of Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Royal Bank of Canada dropped 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 report on Thursday, April 24th. Raymond James upped their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, StockNews.com raised shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $83.71.

Prosperity Bancshares Stock Performance

Shares of NYSE PB opened at $72.67 on Tuesday. The company's fifty day moving average price is $68.89 and its 200 day moving average price is $75.07. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.76. The company has a market capitalization of $6.92 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.94 and a beta of 0.70.

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

Prosperity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares's dividend payout ratio is presently 44.19%.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.63, for a total transaction of $35,315.00. Following the completion of the transaction, the director now directly owns 104,815 shares in the company, valued at approximately $7,403,083.45. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 5,500 shares of company stock worth $382,420. Company insiders own 4.20% of the company's stock.

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.

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