Schonfeld Strategic Advisors LLC Has $1.02 Million Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Schonfeld Strategic Advisors LLC lowered its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 42.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,469 shares of the bank's stock after selling 9,741 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Prosperity Bancshares were worth $1,015,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its stake in shares of Prosperity Bancshares by 487.5% during the fourth 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 stake in Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock valued at $39,000 after buying an additional 409 shares during the period. UMB Bank n.a. raised its position in shares of Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock worth $45,000 after buying an additional 300 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 buying an additional 143 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd lifted its stake in shares of Prosperity Bancshares by 349.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after acquiring an additional 713 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.

Prosperity Bancshares Price Performance

NYSE PB traded down $0.27 on Tuesday, hitting $73.48. 91,797 shares of the stock were exchanged, compared to its average volume of 578,775. The company's 50-day moving average price is $68.78 and its two-hundred day moving average price is $75.10. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.76. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 0.94 and a beta of 0.70.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.02. The business had revenue of $306.68 million for 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%. Prosperity Bancshares's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 earnings per share. Equities analysts predict that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed 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 3.16%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares's payout ratio is presently 44.19%.

Insider Transactions at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $69.78, for a total value of $34,890.00. Following the completion of the sale, the director now directly owns 102,415 shares in the company, valued at approximately $7,146,518.70. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 5,500 shares of company stock valued at $385,225. 4.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PB shares. Raymond James raised their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lowered their price target on Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Hovde Group dropped their price objective on Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Royal Bank of Canada decreased their target price on 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. Finally, Stephens boosted their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.71.

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.