FJ Capital Management LLC Cuts Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

FJ Capital Management LLC lessened its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 93.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,881 shares of the bank's stock after selling 108,717 shares during the quarter. FJ Capital Management LLC's holdings in Prosperity Bancshares were worth $594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. lifted its holdings in 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 purchasing an additional 128 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Prosperity Bancshares by 4.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,069 shares of the bank's stock worth $229,000 after purchasing an additional 128 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock worth $64,000 after purchasing an additional 143 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Prosperity Bancshares by 3.8% during the 4th quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank's stock worth $430,000 after purchasing an additional 194 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Prosperity Bancshares by 23.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank's stock worth $76,000 after purchasing an additional 195 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PB shares. Keefe, Bruyette & Woods reduced their price objective on Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Hovde Group reduced their price objective on Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. StockNews.com lowered Prosperity Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th. Barclays reduced their price objective on 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. Finally, Stephens increased 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.71.

Prosperity Bancshares Stock Up 0.2%

NYSE:PB traded up $0.15 on Friday, hitting $71.27. The stock had a trading volume of 544,724 shares, compared to its average volume of 579,476. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.94 and a beta of 0.70. The company has a fifty day moving average price of $68.79 and a two-hundred day moving average price of $75.09. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $307.17 million. During the same period in the prior year, the business posted $1.18 EPS. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed 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 is Friday, June 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.26%. Prosperity Bancshares's payout ratio is 44.19%.

Insider Activity

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the firm'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. This trade represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 5,500 shares of company stock worth $385,225. 4.20% of the stock is currently owned by corporate insiders.

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.