MetLife Investment Management LLC Has $4.04 Million Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

MetLife Investment Management LLC lifted its position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,604 shares of the bank's stock after acquiring an additional 4,467 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of Prosperity Bancshares worth $4,039,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Prosperity Bancshares during the 4th quarter worth approximately $68,986,000. ExodusPoint Capital Management LP increased its stake in Prosperity Bancshares by 462.3% in the 4th quarter. ExodusPoint Capital Management LP now owns 169,778 shares of the bank's stock valued at $12,793,000 after buying an additional 139,585 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Prosperity Bancshares during the 4th quarter worth about $8,643,000. Strategic Financial Concepts LLC acquired a new position in shares of Prosperity Bancshares during the 4th quarter worth about $5,463,000. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Prosperity Bancshares by 163.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 103,444 shares of the bank's stock valued at $7,795,000 after acquiring an additional 64,250 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America raised Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research report on Tuesday, January 7th. Barclays cut their price objective 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. Morgan Stanley lowered their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Stephens lifted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, StockNews.com cut shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Prosperity Bancshares currently has a consensus rating of "Hold" and a consensus price target of $83.23.

Prosperity Bancshares Trading Up 0.0 %

Shares of NYSE:PB traded up $0.02 during trading on Thursday, reaching $67.92. 74,034 shares of the stock were exchanged, compared to its average volume of 572,876. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The stock has a 50-day moving average price of $69.65 and a 200-day moving average price of $75.22. The firm has a market cap of $6.47 billion, a PE ratio of 13.46, a PEG ratio of 0.94 and a beta of 0.82.

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 (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.02. The business had revenue of $306.68 million during the quarter, compared to the consensus estimate of $307.17 million. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 EPS. On average, sell-side analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 yield of 3.42%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares's dividend payout ratio is 44.19%.

Insiders Place Their Bets

In other news, Director Ned S. Holmes sold 500 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $78.30, for a total transaction of $39,150.00. Following the completion of the sale, the director now owns 106,815 shares of the company's stock, valued at approximately $8,363,614.50. This represents a 0.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 5,500 shares of company stock worth $390,340 in the last quarter. 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.