Sherbrooke Park Advisers LLC Invests $464,000 in Prosperity Bancshares, Inc. (NYSE:PB)

Sherbrooke Park Advisers LLC bought a new position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,156 shares of the bank's stock, valued at approximately $464,000.

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

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 600 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $70.89, for a total value of $42,534.00. Following the transaction, the director now directly owns 45,700 shares of the company's stock, valued at approximately $3,239,673. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 6,600 shares of company stock valued at $460,409. Company insiders own 4.20% of the company's stock.

Prosperity Bancshares Price Performance

NYSE PB traded down $1.98 during trading hours on Wednesday, hitting $69.98. The company's stock had a trading volume of 604,562 shares, compared to its average volume of 586,215. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The company's 50 day simple moving average is $68.94 and its two-hundred day simple moving average is $75.05. The company has a market cap of $6.67 billion, a P/E ratio of 13.83, 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, beating 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 quarter last year, the firm posted $1.18 EPS. The business's quarterly revenue was up 10.7% compared to the same quarter last year. As a group, research analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares's dividend payout ratio is currently 44.19%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PB. Raymond James lifted their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. StockNews.com upgraded shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Royal Bank of Canada cut their price target on Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Stephens raised their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Hovde Group dropped their target price on Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a report 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $83.80.

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.