Prosperity Bancshares, Inc. (NYSE:PB) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Prosperity Bancshares, Inc. (NYSE:PB) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,358 shares of the bank’s stock after purchasing an additional 841 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Prosperity Bancshares were worth $1,233,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PB. Point72 Asset Management L.P. acquired a new position in shares of Prosperity Bancshares in the third quarter valued at approximately $16,478,000. Raymond James Financial Inc. purchased a new position in Prosperity Bancshares in the 4th quarter valued at approximately $8,643,000. Jane Street Group LLC boosted its position in Prosperity Bancshares by 418.0% in the 3rd quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock valued at $8,039,000 after buying an additional 90,015 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Prosperity Bancshares in the fourth quarter worth $5,463,000. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Prosperity Bancshares by 6.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 889,219 shares of the bank’s stock worth $67,002,000 after acquiring an additional 53,654 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Prosperity Bancshares Stock Performance

PB opened at $71.34 on Thursday. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76. The stock has a market capitalization of $6.80 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. The business’s 50-day simple moving average is $76.58 and its 200-day simple moving average is $76.21.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. On average, equities research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 3.25%. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PB shares. UBS Group decreased their target price on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, December 26th. Wolfe Research reiterated a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Bank of America upgraded 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. Morgan Stanley reduced their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. 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 report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $83.50.

Insider Activity

In other news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $76.04, for a total transaction of $38,020.00. Following the completion of the sale, the director now owns 110,315 shares in the company, valued at $8,388,352.60. This represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 5,500 shares of company stock valued at $418,095. Insiders own 4.28% of the company’s stock.

Prosperity Bancshares Company 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.