14,157 Shares in Prosperity Bancshares, Inc. (NYSE:PB) Bought by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. acquired a new stake in Prosperity Bancshares, Inc. (NYSE:PB) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 14,157 shares of the bank’s stock, valued at approximately $1,067,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PB. Creative Planning increased its holdings in shares of Prosperity Bancshares by 17.2% in the third quarter. Creative Planning now owns 3,909 shares of the bank’s stock valued at $282,000 after purchasing an additional 574 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Prosperity Bancshares by 181.6% in the third quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock valued at $62,000 after purchasing an additional 554 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Prosperity Bancshares by 7.0% in the third quarter. Raymond James & Associates now owns 31,942 shares of the bank’s stock valued at $2,302,000 after purchasing an additional 2,082 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Prosperity Bancshares by 21.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 272,331 shares of the bank’s stock valued at $19,627,000 after purchasing an additional 48,719 shares during the last quarter. Finally, Tectonic Advisors LLC grew its stake in shares of Prosperity Bancshares by 3.0% in the third quarter. Tectonic Advisors LLC now owns 7,058 shares of the bank’s stock valued at $509,000 after acquiring an additional 206 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PB. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. UBS Group decreased their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Finally, Stephens upped their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.88.

Insider Transactions at Prosperity Bancshares

In other news, Chairman H E. Timanus, Jr. sold 4,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $86.50, for a total value of $346,000.00. Following the completion of the transaction, the chairman now owns 229,953 shares of the company’s stock, valued at approximately $19,890,934.50. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $78.30, for a total transaction of $39,150.00. Following the completion of the transaction, the director now directly owns 106,815 shares of the company’s stock, valued at $8,363,614.50. This trade represents a 0.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,000 shares of company stock valued at $1,140,995. 4.28% of the stock is currently owned by insiders.

Prosperity Bancshares Stock Down 1.3 %

PB opened at $76.50 on Friday. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.75. The company has a 50-day simple moving average of $77.46 and a 200 day simple moving average of $75.94. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 0.95 and a beta of 0.94.

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 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%. Sell-side analysts anticipate that Prosperity Bancshares, Inc. will post 5.82 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.58 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.03%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 45.85%.

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.