Bfsg LLC Sells 488 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Bfsg LLC decreased its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 12.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,283 shares of the bank’s stock after selling 488 shares during the quarter. Bfsg LLC’s holdings in Prosperity Bancshares were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Venturi Wealth Management LLC raised its holdings in Prosperity Bancshares by 5,602.9% during the 4th quarter. Venturi Wealth Management LLC now owns 1,939 shares of the bank’s stock valued at $146,000 after acquiring an additional 1,905 shares during the period. CIBC Asset Management Inc bought a new stake in Prosperity Bancshares during the 4th quarter valued at $210,000. Sanctuary Advisors LLC raised its holdings in Prosperity Bancshares by 3.8% during the 4th quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank’s stock valued at $430,000 after acquiring an additional 194 shares during the period. Strategic Financial Concepts LLC bought a new stake in Prosperity Bancshares during the 4th quarter valued at $5,463,000. Finally, Lakeridge Wealth Management LLC bought a new stake in Prosperity Bancshares during the 4th quarter valued at $209,000. Institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PB. Raymond James boosted their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Stephens boosted their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Barclays boosted their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Finally, UBS Group reduced their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.88.

Prosperity Bancshares Stock Up 0.8 %

NYSE PB opened at $78.47 on Wednesday. The company has a 50-day simple moving average of $77.73 and a two-hundred day simple moving average of $75.80. Prosperity Bancshares, Inc. has a 12-month low of $57.16 and a 12-month high of $86.75. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. Equities analysts expect that Prosperity Bancshares, Inc. will post 5.82 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 2.96%. Prosperity Bancshares’s payout ratio is 45.85%.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Leah Henderson sold 1,100 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $83.24, for a total transaction of $91,564.00. Following the completion of the transaction, the director now directly owns 7,525 shares of the company’s stock, valued at approximately $626,381. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $84.66, for a total transaction of $42,330.00. Following the transaction, the director now directly owns 113,315 shares of the company’s stock, valued at approximately $9,593,247.90. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,100 shares of company stock worth $1,232,559 over the last three months. Company insiders own 4.28% of the company’s stock.

Prosperity Bancshares 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.