BNP Paribas Financial Markets Has $726,000 Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

BNP Paribas Financial Markets cut its stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 61.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,631 shares of the bank's stock after selling 15,163 shares during the period. BNP Paribas Financial Markets' holdings in Prosperity Bancshares were worth $726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Prosperity Bancshares by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,780,006 shares of the bank's stock worth $736,923,000 after buying an additional 44,567 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Prosperity Bancshares by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,586,260 shares of the bank's stock worth $345,575,000 after buying an additional 48,304 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Prosperity Bancshares by 1.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,342,047 shares of the bank's stock worth $176,473,000 after buying an additional 32,917 shares during the last quarter. Snyder Capital Management L P raised its holdings in shares of Prosperity Bancshares by 7.3% in the fourth quarter. Snyder Capital Management L P now owns 1,220,977 shares of the bank's stock worth $92,001,000 after acquiring an additional 83,488 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Prosperity Bancshares by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,188,208 shares of the bank's stock worth $89,531,000 after acquiring an additional 4,913 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on 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 Prosperity Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Jefferies Financial Group initiated coverage on Prosperity Bancshares in a research note on Wednesday. They issued a "buy" rating and a $85.00 target price for the company. Barclays lowered their price target on Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, 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 for the company in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Prosperity Bancshares presently has a consensus rating of "Moderate Buy" and an average price target of $83.80.

Insider Transactions at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 600 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $70.89, for a total value of $42,534.00. Following the completion of the sale, the director now owns 45,700 shares in the company, valued at $3,239,673. This represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 6,600 shares of company stock valued at $460,409 in the last three months. 4.20% of the stock is currently owned by corporate insiders.

Prosperity Bancshares Stock Performance

Shares of Prosperity Bancshares stock traded down $0.12 on Friday, reaching $69.80. 551,425 shares of the company were exchanged, compared to its average volume of 590,358. The company's 50-day moving average is $68.89 and its two-hundred day moving average is $74.90. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.94 and a beta of 0.70. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its 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 for 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 firm's revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $1.18 EPS. As a group, sell-side analysts forecast that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

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 3.32%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares's payout ratio is currently 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.