Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,323 shares of the bank’s stock after selling 1,162 shares during the period. Mutual of America Capital Management LLC’s holdings in Prosperity Bancshares were worth $3,792,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. UMB Bank n.a. raised its holdings in Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after acquiring an additional 300 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Prosperity Bancshares by 190.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock valued at $59,000 after acquiring an additional 534 shares during the last quarter. GAMMA Investing LLC raised its holdings in Prosperity Bancshares by 20.4% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after acquiring an additional 143 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in Prosperity Bancshares by 31.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 981 shares of the bank’s stock valued at $71,000 after acquiring an additional 232 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in Prosperity Bancshares by 14.9% in the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank’s stock valued at $71,000 after acquiring an additional 128 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Harrison Stafford II sold 4,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $80.07, for a total value of $320,280.00. Following the sale, the director now directly owns 107,137 shares in the company, valued at approximately $8,578,459.59. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $82.17, for a total transaction of $41,085.00. Following the completion of the sale, the director now owns 111,315 shares in the company, valued at $9,146,753.55. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock valued at $711,145 in the last 90 days. Company insiders own 4.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PB. Raymond James increased their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. UBS Group cut their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, December 26th. StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Monday. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Finally, Barclays raised their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Prosperity Bancshares presently has a consensus rating of “Hold” and an average target price of $82.88.

Prosperity Bancshares Stock Performance

NYSE:PB opened at $73.91 on Thursday. The stock has a market capitalization of $7.04 billion, a P/E ratio of 14.61, a PEG ratio of 0.94 and a beta of 0.94. The company has a 50 day moving average price of $77.41 and a 200 day moving average price of $76.32. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.76.

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

Prosperity Bancshares Announces Dividend

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 $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.14%. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

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.