Hsbc Holdings PLC Buys New Stake in Prosperity Bancshares, Inc. (NYSE:PB)

Hsbc Holdings PLC purchased a new position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,954 shares of the bank's stock, valued at approximately $298,000.

Other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in shares of Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock worth $28,000 after purchasing an additional 312 shares during the period. Jones Financial Companies Lllp boosted its position in Prosperity Bancshares by 368.5% during the 4th 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. increased 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. GAMMA Investing LLC boosted its position in shares of Prosperity Bancshares by 20.4% in 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. Finally, Aster Capital Management DIFC Ltd raised its stake in shares of Prosperity Bancshares by 349.5% in the fourth 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 last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $69.78, for a total value of $34,890.00. Following the completion of the transaction, the director now directly owns 102,415 shares of the company's stock, valued at approximately $7,146,518.70. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 5,500 shares of company stock worth $385,225. Corporate insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PB shares. Royal Bank of Canada dropped 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 report on Thursday, April 24th. StockNews.com lowered Prosperity Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday, April 24th. 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. Hovde Group cut their target price on shares of Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, Morgan Stanley cut their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Prosperity Bancshares presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.71.

Prosperity Bancshares Stock Down 0.3%

Shares of NYSE PB traded down $0.25 during trading on Tuesday, hitting $73.50. The company had a trading volume of 570,516 shares, compared to its average volume of 581,619. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.76. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 0.94 and a beta of 0.70. The stock has a fifty day simple moving average of $68.80 and a two-hundred day simple moving average of $75.09.

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, beating the consensus estimate of $1.35 by $0.02. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. The business had revenue of $306.68 million for the quarter, compared to the consensus estimate of $307.17 million. During the same period in the prior year, the business earned $1.18 earnings per share. The business's revenue was up 10.7% on a year-over-year basis. On average, 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 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. This represents a $2.32 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares's dividend payout ratio (DPR) is 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.