Voya Investment Management LLC Has $6.53 Million Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

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

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in shares of Prosperity Bancshares by 487.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock valued at $28,000 after purchasing an additional 312 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Prosperity Bancshares by 368.5% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after buying an additional 409 shares in the last quarter. UMB Bank n.a. raised its stake in shares of 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 acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC grew its position 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 during the last quarter. Finally, Aster Capital Management DIFC Ltd raised its position in Prosperity Bancshares by 349.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock valued at $69,000 after purchasing an additional 713 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Trading Up 0.6 %

Shares of PB stock traded up $0.39 on Monday, hitting $70.28. The stock had a trading volume of 140,107 shares, compared to its average volume of 573,695. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.76. The company has a fifty day moving average price of $69.36 and a two-hundred day moving average price of $75.18. The firm has a market cap of $6.70 billion, a P/E ratio of 13.91, a PEG ratio of 0.94 and a beta of 0.70.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $306.68 million during the quarter, compared to the consensus estimate of $307.17 million. During the same period in the prior year, the company earned $1.18 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The business 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 3.30%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares's dividend payout ratio (DPR) is presently 44.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PB. Raymond James raised their target price on Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Morgan Stanley lowered their price target on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. StockNews.com cut Prosperity Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday, April 24th. Stephens raised their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Monday. 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 stock. According to MarketBeat.com, Prosperity Bancshares has a consensus rating of "Moderate Buy" and a consensus target price of $83.71.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $78.30, for a total value of $39,150.00. Following the sale, the director now owns 106,815 shares in the company, valued at approximately $8,363,614.50. The trade was a 0.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 5,500 shares of company stock worth $390,340 over the last ninety days. Company insiders own 4.20% of the company's stock.

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.