Prosperity Bancshares, Inc. $PB Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH lowered its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 37.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,489 shares of the bank’s stock after selling 11,305 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Prosperity Bancshares were worth $1,299,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PB. Steph & Co. acquired a new position in Prosperity Bancshares during the second quarter valued at $38,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Prosperity Bancshares during the 1st quarter worth about $48,000. IFP Advisors Inc raised its stake in shares of Prosperity Bancshares by 1,251.4% during the 2nd quarter. IFP Advisors Inc now owns 973 shares of the bank’s stock valued at $68,000 after buying an additional 901 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Prosperity Bancshares by 16.8% during the 2nd quarter. Parallel Advisors LLC now owns 978 shares of the bank’s stock valued at $69,000 after buying an additional 141 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Prosperity Bancshares by 33.8% in the 2nd quarter. Signaturefd LLC now owns 985 shares of the bank’s stock valued at $69,000 after buying an additional 249 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Stephens raised their target price on Prosperity Bancshares from $77.00 to $81.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. TD Cowen upped their price objective on Prosperity Bancshares from $79.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Cantor Fitzgerald initiated coverage on shares of Prosperity Bancshares in a report on Wednesday, September 10th. They set an “overweight” rating and a $78.00 target price for the company. Hovde Group decreased their target price on shares of Prosperity Bancshares from $83.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Finally, Citigroup restated a “neutral” rating and set a $68.00 price target (down previously from $78.00) on shares of Prosperity Bancshares in a research report on Monday, September 15th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Prosperity Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $80.21.

Insider Transactions at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $65.57, for a total transaction of $32,785.00. Following the completion of the sale, the director directly owned 88,415 shares in the company, valued at approximately $5,797,371.55. The trade was a 0.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 13,200 shares of company stock valued at $872,099. Insiders own 4.20% of the company’s stock.

Prosperity Bancshares Stock Performance

Prosperity Bancshares stock opened at $68.86 on Thursday. The stock has a market capitalization of $6.54 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.97 and a beta of 0.75. The company’s fifty day moving average price is $65.65 and its 200 day moving average price is $68.18. Prosperity Bancshares, Inc. has a 1 year low of $61.06 and a 1 year high of $85.76.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, October 29th. The bank reported $1.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.45. Prosperity Bancshares had a net margin of 30.28% and a return on equity of 7.06%. The business had revenue of $314.67 million for the quarter, compared to the consensus estimate of $317.94 million. During the same period last year, the firm posted $1.34 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, December 15th. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.58. Prosperity Bancshares’s payout ratio is presently 42.78%.

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.