Prosperity Bancshares, Inc. (NYSE:PB) Stock Position Raised by NBC Securities Inc.

NBC Securities Inc. grew its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 113,516.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,817 shares of the bank's stock after acquiring an additional 6,811 shares during the period. NBC Securities Inc.'s holdings in Prosperity Bancshares were worth $486,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PB. Blue Trust Inc. raised its position 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 acquiring an additional 128 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake 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 valued at $229,000 after purchasing an additional 128 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Prosperity Bancshares by 3.8% during the fourth quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank's stock worth $430,000 after purchasing an additional 194 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Prosperity Bancshares by 23.9% during the fourth quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank's stock worth $76,000 after purchasing an additional 195 shares during the period. Finally, Savant Capital LLC lifted its position in shares of Prosperity Bancshares by 4.6% in the 4th quarter. Savant Capital LLC now owns 4,505 shares of the bank's stock worth $339,000 after buying an additional 197 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PB. Jefferies Financial Group began coverage on shares of Prosperity Bancshares in a research report on Wednesday, May 21st. They set a "buy" rating and a $85.00 price objective for the company. Royal Bank of Canada dropped their price target on 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. Wall Street Zen raised Prosperity Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Barclays lowered 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. Finally, Hovde Group cut their target price 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. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $83.80.

Insider Activity

In other news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction dated 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 owns 104,815 shares in the company, valued at approximately $7,403,083.45. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 7,200 shares of company stock worth $500,949. 4.20% of the stock is owned by company insiders.

Prosperity Bancshares Trading Up 0.3%

PB traded up $0.24 on Monday, reaching $70.24. The company had a trading volume of 409,660 shares, compared to its average volume of 594,841. The company has a market capitalization of $6.69 billion, a P/E ratio of 13.88, a PEG ratio of 0.94 and a beta of 0.68. The company has a fifty day moving average of $68.56 and a 200-day moving average of $74.02. 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 posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.02. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The business had revenue of $306.68 million during the quarter, compared to analysts' expectations of $307.17 million. During the same period last year, the firm posted $1.18 earnings per share. The business's revenue was up 10.7% on a year-over-year basis. Research analysts predict that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares's payout ratio is currently 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.