Quantinno Capital Management LP Purchases 20,006 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Quantinno Capital Management LP boosted its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 182.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,965 shares of the bank's stock after acquiring an additional 20,006 shares during the period. Quantinno Capital Management LP's holdings in Prosperity Bancshares were worth $2,333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in shares of Prosperity Bancshares by 14.9% in the fourth quarter. Blue Trust Inc. now owns 987 shares of the bank's stock worth $71,000 after purchasing an additional 128 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position 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 worth $229,000 after purchasing an additional 128 shares during the period. Sanctuary Advisors LLC raised its position in shares of Prosperity Bancshares by 3.8% in the fourth quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank's stock valued at $430,000 after purchasing an additional 194 shares during the period. First Horizon Advisors Inc. raised its holdings in Prosperity Bancshares by 23.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank's stock valued at $76,000 after acquiring an additional 195 shares during the period. Finally, Savant Capital LLC increased its stake in shares of Prosperity Bancshares by 4.6% during the fourth quarter. Savant Capital LLC now owns 4,505 shares of the bank's stock worth $339,000 after purchasing an additional 197 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $73.62, for a total transaction of $36,810.00. Following the transaction, the director now owns 105,315 shares of the company's stock, valued at $7,753,290.30. This represents a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 6,600 shares of company stock worth $460,409 over the last three months. 4.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PB. Barclays cut their price objective on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their price target on shares of Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Wall Street Zen raised Prosperity Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Stephens upped their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Raymond James upped their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $83.80.

Prosperity Bancshares Stock Down 0.2%

NYSE:PB traded down $0.12 during trading hours on Monday, hitting $69.80. 551,425 shares of the company traded hands, compared to its average volume of 590,358. The firm's 50-day simple moving average is $68.89 and its 200-day simple moving average is $74.90. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76. The company has a market cap of $6.65 billion, a PE ratio of 13.79, a PEG ratio of 0.94 and a beta of 0.70.

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, topping 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 net margin of 26.79% and a return on equity of 6.64%. The company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 EPS. As a group, equities research analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Announces Dividend

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