Marshall Wace LLP boosted its position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 201.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,900 shares of the bank's stock after buying an additional 9,955 shares during the quarter. Marshall Wace LLP's holdings in Prosperity Bancshares were worth $1,123,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in shares of Prosperity Bancshares by 5.7% in the 3rd quarter. Tidal Investments LLC now owns 3,875 shares of the bank's stock valued at $279,000 after buying an additional 209 shares during the period. Franklin Resources Inc. grew its holdings in shares of Prosperity Bancshares by 40.6% during the third quarter. Franklin Resources Inc. now owns 34,411 shares of the bank's stock valued at $2,509,000 after purchasing an additional 9,935 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Prosperity Bancshares by 20.4% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock valued at $64,000 after purchasing an additional 143 shares during the last quarter. First Hawaiian Bank raised its position in shares of Prosperity Bancshares by 47.5% during the 4th quarter. First Hawaiian Bank now owns 4,612 shares of the bank's stock worth $348,000 after purchasing an additional 1,485 shares during the period. Finally, ORG Partners LLC lifted its holdings in shares of Prosperity Bancshares by 57.1% in the 4th quarter. ORG Partners LLC now owns 5,500 shares of the bank's stock worth $414,000 after purchasing an additional 2,000 shares during the last quarter. 80.69% of the stock is owned by institutional investors.
Prosperity Bancshares Stock Performance
NYSE PB traded up $1.91 on Friday, reaching $70.00. The company's stock had a trading volume of 563,617 shares, compared to its average volume of 574,877. The firm's 50 day moving average is $69.36 and its two-hundred day moving average is $75.17. The stock has a market cap of $6.67 billion, a PE ratio of 13.83, a PEG ratio of 0.94 and a beta of 0.82. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.76.
Prosperity Bancshares (NYSE:PB - Get Free Report) last released 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. 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 during the quarter, compared to analyst estimates of $307.17 million. During the same quarter last year, the company posted $1.18 EPS. Prosperity Bancshares's revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts anticipate 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 issued 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 dividend yield of 3.31%. Prosperity Bancshares's payout ratio is currently 44.19%.
Insider Transactions at Prosperity Bancshares
In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $80.01, for a total transaction of $40,005.00. Following the completion of the sale, the director now owns 107,315 shares of the company's stock, valued at $8,586,273.15. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 5,500 shares of company stock valued at $390,340 over the last quarter. Company insiders own 4.20% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. Raymond James increased their target price on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. StockNews.com downgraded shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th. Morgan Stanley dropped their price target on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada reduced 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. Finally, Bank of America upgraded Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $83.23.
View Our Latest Report on Prosperity Bancshares
About Prosperity Bancshares
(
Free Report)
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.
Further Reading
Before you consider Prosperity Bancshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Prosperity Bancshares wasn't on the list.
While Prosperity Bancshares currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
