Teza Capital Management LLC Sells 19,507 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Teza Capital Management LLC reduced its stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 71.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,695 shares of the bank's stock after selling 19,507 shares during the period. Teza Capital Management LLC's holdings in Prosperity Bancshares were worth $580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. HB Wealth Management LLC purchased a new stake in Prosperity Bancshares in the 4th quarter valued at about $216,000. Ameritas Advisory Services LLC bought a new position in shares of Prosperity Bancshares during the 4th quarter worth approximately $206,000. UMB Bank n.a. raised its stake in shares of Prosperity Bancshares by 102.7% during 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. Dakota Wealth Management bought a new position in shares of Prosperity Bancshares during the 4th quarter worth approximately $237,000. Finally, Olistico Wealth LLC increased its stake in Prosperity Bancshares by 93.5% during the 4th quarter. Olistico Wealth LLC now owns 2,872 shares of the bank's stock valued at $216,000 after purchasing an additional 1,388 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Raymond James upped their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Barclays dropped their price target on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley dropped their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Keefe, Bruyette & Woods decreased 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. Finally, Royal Bank of Canada reduced their target price on shares of 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. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Prosperity Bancshares currently has an average rating of "Moderate Buy" and an average price target of $83.71.

Prosperity Bancshares Stock Up 0.1%

Shares of PB stock opened at $72.67 on Tuesday. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 0.94 and a beta of 0.70. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.76. The firm's 50 day moving average price is $68.89 and its two-hundred day moving average price is $75.07.

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 for the quarter, beating analysts' consensus estimates 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%. Prosperity Bancshares's revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 earnings per share. On average, equities analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, June 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.19%. Prosperity Bancshares's payout ratio is currently 44.19%.

Insider Transactions at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $73.62, for a total transaction of $36,810.00. Following the transaction, the director now directly owns 105,315 shares of the company's stock, valued at approximately $7,753,290.30. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 5,500 shares of company stock valued at $382,420. Corporate insiders own 4.20% of the company's stock.

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.

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