Public Employees Retirement Association of Colorado Reduces Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Public Employees Retirement Association of Colorado reduced its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 208,211 shares of the bank's stock after selling 38,172 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.22% of Prosperity Bancshares worth $15,689,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its position in Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock valued at $28,000 after acquiring an additional 312 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Prosperity Bancshares by 368.5% in the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after purchasing an additional 409 shares during the period. UMB Bank n.a. raised its holdings in Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank's stock worth $45,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC lifted its position in 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 buying an additional 143 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its holdings in shares of Prosperity Bancshares by 349.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock valued at $69,000 after buying an additional 713 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Prosperity Bancshares Trading Up 2.8 %

NYSE PB traded up $1.91 during trading hours on Friday, hitting $70.00. 563,617 shares of the company's stock traded hands, compared to its average volume of 574,877. Prosperity Bancshares, Inc. has a 52 week low of $57.16 and a 52 week 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 business's fifty day moving average price is $69.36 and its two-hundred day moving average price is $75.17.

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. 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 in the previous year, the company posted $1.18 earnings per share. Prosperity Bancshares's revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.58 dividend. The ex-dividend date 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%.

Wall Street Analyst Weigh In

PB has been the topic of a number of analyst reports. Hovde Group dropped their price target on Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Royal Bank of Canada reduced their price objective on shares of Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Barclays cut their price target on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Bank of America raised Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a research report on Tuesday, January 7th. Finally, Stephens lifted their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. One investment 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.com, Prosperity Bancshares currently has an average rating of "Hold" and a consensus target price of $83.23.

Insider Transactions at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $78.30, for a total value of $39,150.00. Following the completion of the transaction, the director now directly owns 106,815 shares of the company's stock, valued at approximately $8,363,614.50. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 5,500 shares of company stock valued at $390,340 over the last three months. Corporate 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.