Teza Capital Management LLC Decreases Position in Prosperity Bancshares, Inc. (NYSE:PB)

Teza Capital Management LLC lowered its stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 71.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PB. Smartleaf Asset Management LLC boosted 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 boosted its position in shares of Prosperity Bancshares by 368.5% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock valued at $39,000 after buying an additional 409 shares during the period. UMB Bank n.a. boosted its position in shares of Prosperity Bancshares by 102.7% during the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank's stock valued at $45,000 after buying an additional 300 shares during the period. Aster Capital Management DIFC Ltd boosted its position in shares of Prosperity Bancshares by 349.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock valued at $69,000 after buying an additional 713 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Prosperity Bancshares by 14.9% during the fourth quarter. Blue Trust Inc. now owns 987 shares of the bank's stock valued at $71,000 after buying an additional 128 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on 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 report on Tuesday, April 8th. Hovde Group reduced their price objective on shares of Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group started coverage on shares of Prosperity Bancshares in a research note on Wednesday. They issued a "buy" rating and a $85.00 price objective for the company. Stephens boosted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reduced 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 note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.80.

Insider Activity

In related news, Director Ned S. Holmes sold 600 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 6,600 shares of company stock worth $460,409 in the last ninety days. Company insiders own 4.20% of the company's stock.

Prosperity Bancshares Stock Performance

Shares of NYSE PB traded down $0.12 during mid-day trading on Friday, hitting $69.80. The stock had a trading volume of 551,425 shares, compared to its average volume of 590,358. The company has a 50 day moving average of $68.89 and a two-hundred day moving average of $74.92. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.76. The firm 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, beating analysts' consensus estimates of $1.35 by $0.02. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. The firm had revenue of $306.68 million for the quarter, compared to analysts' expectations of $307.17 million. During the same period last year, the firm earned $1.18 EPS. The company's quarterly revenue was up 10.7% on a year-over-year basis. Equities research analysts predict that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm 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. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Friday, June 13th. 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.