Wealthquest Corp Makes New $811,000 Investment in Prosperity Bancshares, Inc. (NYSE:PB)

Wealthquest Corp acquired a new stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,362 shares of the bank's stock, valued at approximately $811,000.

Several other large investors have also bought and sold shares of the business. Avantax Advisory Services Inc. raised its position in Prosperity Bancshares by 45.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,281 shares of the bank's stock valued at $549,000 after purchasing an additional 2,263 shares during the last quarter. Cetera Investment Advisers raised its position in Prosperity Bancshares by 5.9% in the fourth quarter. Cetera Investment Advisers now owns 7,675 shares of the bank's stock valued at $578,000 after purchasing an additional 427 shares during the last quarter. GAMMA Investing LLC raised its position in Prosperity Bancshares by 8,212.4% in the first quarter. GAMMA Investing LLC now owns 70,157 shares of the bank's stock valued at $5,007,000 after purchasing an additional 69,313 shares during the last quarter. Deutsche Bank AG raised its position in Prosperity Bancshares by 10.6% in the fourth quarter. Deutsche Bank AG now owns 6,194 shares of the bank's stock valued at $467,000 after purchasing an additional 592 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Prosperity Bancshares by 44.9% in the first quarter. Fifth Third Bancorp now owns 1,277 shares of the bank's stock valued at $91,000 after purchasing an additional 396 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Prosperity Bancshares Trading Down 0.9%

PB stock traded down $0.63 during mid-day trading on Friday, reaching $70.15. The company's stock had a trading volume of 1,203,196 shares, compared to its average volume of 600,795. Prosperity Bancshares, Inc. has a 12 month low of $58.66 and a 12 month high of $86.76. The business's 50 day moving average price is $69.56 and its 200 day moving average price is $72.67. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 0.88 and a beta of 0.68.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings data 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 6.81% and a net margin of 27.69%. The firm had revenue of $306.68 million during the quarter, compared to analysts' expectations of $307.17 million. During the same quarter last year, the firm posted $1.18 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid 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 yield of 3.31%. Prosperity Bancshares's dividend payout ratio (DPR) is presently 44.19%.

Insider Buying and Selling at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $63.62, for a total transaction of $31,810.00. Following the transaction, the director now owns 102,815 shares of the company's stock, valued at $6,541,090.30. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 9,000 shares of company stock valued at $621,965. Company insiders own 4.20% of the company's stock.

Analyst Ratings Changes

PB has been the subject of several research reports. Keefe, Bruyette & Woods dropped their target price on Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. Barclays lowered their price objective on Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Royal Bank Of Canada lowered their price objective on Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. Wall Street Zen upgraded Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Jefferies Financial Group started coverage on Prosperity Bancshares in a research report on Wednesday, May 21st. They set a "buy" rating and a $85.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average 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.