Prosperity Bancshares, Inc. (NYSE:PB) Shares Acquired by First Hawaiian Bank

First Hawaiian Bank increased its position in shares of Prosperity Bancshares, Inc. (NYSE:PBFree Report) by 47.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,612 shares of the bank’s stock after acquiring an additional 1,485 shares during the quarter. First Hawaiian Bank’s holdings in Prosperity Bancshares were worth $348,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Prosperity Bancshares in the third quarter worth approximately $4,804,000. Prospector Partners LLC grew its stake in shares of Prosperity Bancshares by 24.6% during the 3rd quarter. Prospector Partners LLC now owns 228,992 shares of the bank’s stock valued at $16,503,000 after buying an additional 45,177 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Prosperity Bancshares by 16.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 811,772 shares of the bank’s stock worth $49,632,000 after buying an additional 112,101 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Prosperity Bancshares in the 3rd quarter worth $372,000. Finally, US Bancorp DE boosted its holdings in Prosperity Bancshares by 3.4% in the third quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock valued at $340,000 after acquiring an additional 153 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Prosperity Bancshares Trading Down 1.7 %

NYSE PB opened at $73.39 on Friday. The company has a 50-day moving average price of $79.25 and a two-hundred day moving average price of $73.32. Prosperity Bancshares, Inc. has a 52 week low of $57.16 and a 52 week high of $86.75. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 1.19 and a beta of 0.93.

Prosperity Bancshares (NYSE:PBGet Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. The business had revenue of $459.00 million during the quarter, compared to analyst estimates of $299.83 million. During the same period in the prior year, the company posted $1.20 EPS. As a group, equities research analysts expect that Prosperity Bancshares, Inc. will post 5.05 earnings per share for the current fiscal year.

Prosperity Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a $0.58 dividend. The ex-dividend date was Friday, December 13th. This represents a $2.32 annualized dividend and a yield of 3.16%. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.56. Prosperity Bancshares’s dividend payout ratio is presently 49.26%.

Insider Activity at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $74.12, for a total value of $37,060.00. Following the sale, the director now owns 109,315 shares of the company’s stock, valued at approximately $8,102,427.80. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harrison Stafford II sold 4,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $80.07, for a total value of $320,280.00. Following the transaction, the director now directly owns 107,137 shares of the company’s stock, valued at $8,578,459.59. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,600 shares of company stock worth $1,117,424 in the last 90 days. Corporate insiders own 4.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PB. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Tuesday, January 7th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Prosperity Bancshares in a research report on Thursday, October 24th. StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday. UBS Group decreased their target price on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, December 26th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $77.00 price target on shares of Prosperity Bancshares in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $81.38.

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Prosperity Bancshares Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prosperity Bancshares (NYSE:PB)

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