Tower Research Capital LLC TRC Purchases 4,508 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Tower Research Capital LLC TRC lifted its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 107.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,703 shares of the bank's stock after purchasing an additional 4,508 shares during the quarter. Tower Research Capital LLC TRC's holdings in Prosperity Bancshares were worth $656,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PB. Blue Trust Inc. raised its position in Prosperity Bancshares by 14.9% in the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank's stock valued at $71,000 after buying an additional 128 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Prosperity Bancshares by 4.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,069 shares of the bank's stock valued at $229,000 after purchasing an additional 128 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Prosperity Bancshares by 20.4% in the fourth 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 boosted its holdings in Prosperity Bancshares by 3.8% during the fourth quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank's stock worth $430,000 after purchasing an additional 194 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in Prosperity Bancshares by 23.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank's stock valued at $76,000 after purchasing an additional 195 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Prosperity Bancshares Trading Up 2.8 %

PB stock traded up $1.91 during trading hours on Friday, hitting $70.00. 563,617 shares of the stock were exchanged, compared to its average volume of 575,396. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The firm has a market capitalization of $6.67 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.94 and a beta of 0.82. The company has a 50-day simple moving average of $69.36 and a two-hundred day simple moving average of $75.18.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.02. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The business had revenue of $306.68 million for the quarter, compared to analyst estimates of $307.17 million. During the same period last year, the firm earned $1.18 earnings per share. Prosperity Bancshares's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The business 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 dividend of $0.58 per share. The ex-dividend date 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 Activity

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $67.20, for a total transaction of $33,600.00. Following the completion of the transaction, the director now directly owns 102,915 shares in the company, valued at $6,915,888. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 5,500 shares of company stock worth $390,340. 4.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PB. StockNews.com downgraded shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday, April 24th. Raymond James boosted their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. 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. Hovde Group lowered 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, Bank of America upgraded shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $83.23.

About Prosperity Bancshares

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.