Sherbrooke Park Advisers LLC Purchases Shares of 6,156 Prosperity Bancshares, Inc. (NYSE:PB)

Sherbrooke Park Advisers LLC acquired a new stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,156 shares of the bank's stock, valued at approximately $464,000.

A number of other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake 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 worth $28,000 after acquiring an additional 312 shares during the period. Jones Financial Companies Lllp boosted its holdings in Prosperity Bancshares by 368.5% in the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock valued at $39,000 after purchasing an additional 409 shares in the last quarter. UMB Bank n.a. boosted its holdings in Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock valued at $45,000 after purchasing an additional 300 shares in the last quarter. Aster Capital Management DIFC Ltd increased 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 period. Finally, Blue Trust Inc. raised its stake in shares of 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 buying an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Price Performance

Shares of NYSE PB traded down $0.70 on Friday, hitting $69.22. The company's stock had a trading volume of 63,387 shares, compared to its average volume of 623,957. The stock has a 50 day moving average of $68.91 and a 200-day moving average of $74.99. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.94 and a beta of 0.70. Prosperity Bancshares, Inc. has a 12-month low of $57.16 and a 12-month high of $86.75.

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

Prosperity Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.35%. Prosperity Bancshares's dividend payout ratio (DPR) is 44.19%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PB. Jefferies Financial Group started coverage on Prosperity Bancshares in a research note on Wednesday. They issued a "buy" rating and a $85.00 price target on the stock. Keefe, Bruyette & Woods reduced their target price 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 raised shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Stephens increased their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, Barclays decreased their price objective on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Prosperity Bancshares has an average rating of "Moderate Buy" and an average target price of $83.80.

Insider Activity

In other Prosperity Bancshares 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 sale, the director now directly owns 104,815 shares of the company's stock, valued at $7,403,083.45. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 6,600 shares of company stock worth $460,409 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

About Prosperity Bancshares

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.