Prosperity Bancshares, Inc. $PB Holdings Trimmed by Yousif Capital Management LLC

Yousif Capital Management LLC lowered its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 1.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 31,874 shares of the bank’s stock after selling 580 shares during the period. Yousif Capital Management LLC’s holdings in Prosperity Bancshares were worth $2,239,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PB. T. Rowe Price Investment Management Inc. boosted its stake in Prosperity Bancshares by 14.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,232,995 shares of the bank’s stock valued at $230,739,000 after buying an additional 412,283 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Prosperity Bancshares during the first quarter valued at $25,491,000. AQR Capital Management LLC lifted its holdings in shares of Prosperity Bancshares by 56.2% during the first quarter. AQR Capital Management LLC now owns 866,223 shares of the bank’s stock valued at $61,008,000 after purchasing an additional 311,698 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Prosperity Bancshares by 325.1% during the first quarter. MetLife Investment Management LLC now owns 227,891 shares of the bank’s stock valued at $16,265,000 after purchasing an additional 174,287 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Prosperity Bancshares during the first quarter valued at $11,433,000. 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 firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $65.24, for a total transaction of $32,620.00. Following the completion of the sale, the director directly owned 90,915 shares of the company’s stock, valued at $5,931,294.60. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 14,300 shares of company stock worth $960,266. 4.20% of the stock is owned by company insiders.

Prosperity Bancshares Trading Up 2.2%

Shares of Prosperity Bancshares stock opened at $63.28 on Friday. The stock has a 50-day moving average price of $66.79 and a 200 day moving average price of $68.38. The company has a market cap of $6.01 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.94 and a beta of 0.73. Prosperity Bancshares, Inc. has a 1 year low of $61.06 and a 1 year high of $86.75.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.02. The firm had revenue of $310.70 million during the quarter, compared to the consensus estimate of $315.66 million. Prosperity Bancshares had a return on equity of 6.99% and a net margin of 29.37%.During the same period in the prior year, the business earned $1.22 EPS. On average, equities analysts forecast that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on PB shares. Hovde Group reduced their target price on Prosperity Bancshares from $85.00 to $83.00 and set an “outperform” rating for the company in a report on Thursday, July 24th. TD Cowen started coverage on Prosperity Bancshares in a report on Thursday, September 25th. They set a “buy” rating and a $79.00 target price for the company. Royal Bank Of Canada reduced their target price on Prosperity Bancshares from $78.00 to $72.00 and set a “sector perform” rating for the company in a report on Friday, October 10th. Citigroup reaffirmed a “neutral” rating and set a $68.00 target price (down from $78.00) on shares of Prosperity Bancshares in a report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prosperity Bancshares in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $82.27.

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.