Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,614 shares of the bank's stock after selling 4,292 shares during the quarter. Voya Investment Management LLC owned about 0.09% of Prosperity Bancshares worth $6,526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its stake in shares of Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock valued at $28,000 after buying an additional 312 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after acquiring an additional 409 shares in the last quarter. UMB Bank n.a. increased its stake in Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank's stock valued at $45,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC raised its stake 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 acquiring an additional 143 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its position in shares of Prosperity Bancshares by 349.5% during 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 in the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Stock Up 2.8 %

Shares of PB traded up $1.91 on Friday, hitting $70.00. 563,617 shares of the stock traded hands, compared to its average volume of 575,396. 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 0.70. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.76. The stock's 50 day moving average is $69.36 and its two-hundred day moving average is $75.18.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 EPS 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 the consensus estimate of $307.17 million. During the same quarter in the previous year, the business earned $1.18 earnings per share. The business's revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The business also recently declared 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. This represents a $2.32 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares's dividend payout ratio is currently 44.19%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Hovde Group dropped their price objective on shares of Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Bank of America upgraded Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a research report on Tuesday, January 7th. 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 note on Thursday, January 30th. Royal Bank of Canada lowered their target price on Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Finally, Morgan Stanley cut their price target on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. One equities research 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 data from MarketBeat, Prosperity Bancshares presently has an average rating of "Hold" and a consensus target price of $83.23.

Insider Buying and Selling

In related news, Director Ned S. Holmes sold 500 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $63.62, for a total transaction of $31,810.00. Following the completion of the sale, the director now owns 102,815 shares of the company's stock, valued at approximately $6,541,090.30. This represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 5,500 shares of company stock valued at $390,340. 4.20% of the stock is currently owned by company insiders.

Prosperity Bancshares 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.