Teacher Retirement System of Texas Purchases 2,112 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Teacher Retirement System of Texas raised its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 13.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,720 shares of the bank’s stock after acquiring an additional 2,112 shares during the quarter. Teacher Retirement System of Texas’ holdings in Prosperity Bancshares were worth $1,335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in shares of Prosperity Bancshares during the 3rd quarter valued at $372,000. Jane Street Group LLC increased its position in shares of Prosperity Bancshares by 418.0% during the third 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. Stifel Financial Corp lifted its holdings in shares of Prosperity Bancshares by 4.3% in the third quarter. Stifel Financial Corp now owns 113,293 shares of the bank’s stock worth $8,165,000 after buying an additional 4,677 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Prosperity Bancshares by 3.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 282,920 shares of the bank’s stock valued at $21,128,000 after acquiring an additional 10,589 shares during the period. Finally, Cerity Partners LLC grew its stake in Prosperity Bancshares by 22.6% during the third quarter. Cerity Partners LLC now owns 6,282 shares of the bank’s stock valued at $453,000 after acquiring an additional 1,157 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $74.12, for a total transaction of $37,060.00. Following the completion of the sale, the director now directly owns 109,315 shares in the company, valued at approximately $8,102,427.80. This represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 5,500 shares of company stock worth $416,135. 4.28% of the stock is currently owned by insiders.

Prosperity Bancshares Stock Performance

PB stock opened at $70.49 on Friday. The firm has a market cap of $6.72 billion, a P/E ratio of 13.93, a P/E/G ratio of 0.94 and a beta of 0.94. The firm’s fifty day moving average is $75.83 and its 200 day moving average is $76.11. Prosperity Bancshares, Inc. has a 52 week low of $57.16 and a 52 week high of $86.76.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. As a group, analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The business also recently declared 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 is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 3.29%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 45.85%.

Wall Street Analyst Weigh In

PB has been the topic of several recent analyst reports. Morgan Stanley lowered their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. StockNews.com lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, March 19th. Barclays upped their target price on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. UBS Group dropped their price target on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. Finally, Raymond James raised their target price 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $83.50.

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.