Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Apeiron RIA LLC

Apeiron RIA LLC trimmed its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 4.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,450 shares of the bank’s stock after selling 200 shares during the period. Apeiron RIA LLC’s holdings in Prosperity Bancshares were worth $335,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its stake 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 buying an additional 143 shares during the period. M&T Bank Corp boosted its holdings in shares of Prosperity Bancshares by 0.3% in the third quarter. M&T Bank Corp now owns 45,392 shares of the bank’s stock valued at $3,272,000 after acquiring an additional 149 shares in the last quarter. US Bancorp DE increased its stake in shares of Prosperity Bancshares by 3.4% during the third quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock worth $340,000 after acquiring an additional 153 shares during the period. Tectonic Advisors LLC raised its holdings in Prosperity Bancshares by 3.0% during the third quarter. Tectonic Advisors LLC now owns 7,058 shares of the bank’s stock worth $509,000 after purchasing an additional 206 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in Prosperity Bancshares by 5.7% in the third quarter. Tidal Investments LLC now owns 3,875 shares of the bank’s stock valued at $279,000 after purchasing an additional 209 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on PB shares. Wedbush reiterated an “outperform” rating and set a $90.00 target price on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Wolfe Research reiterated a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. UBS Group reduced their target price on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, December 26th. DA Davidson cut shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $80.00 to $78.00 in a research note on Tuesday, October 15th. Finally, Barclays raised their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $81.38.

Insider Transactions at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $79.01, for a total value of $39,505.00. Following the completion of the sale, the director now owns 108,315 shares in the company, valued at $8,557,968.15. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $86.50, for a total transaction of $346,000.00. Following the transaction, the chairman now owns 229,953 shares in the company, valued at approximately $19,890,934.50. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,600 shares of company stock worth $1,196,144 over the last ninety days. 4.28% of the stock is currently owned by corporate insiders.

Prosperity Bancshares Price Performance

Shares of Prosperity Bancshares stock opened at $78.31 on Friday. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.75. The business has a 50 day moving average price of $79.07 and a 200 day moving average price of $74.32. The company has a market capitalization of $7.46 billion, a P/E ratio of 16.63, a P/E/G ratio of 1.11 and a beta of 0.93.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The business had revenue of $459.00 million for the quarter, compared to the consensus estimate of $299.83 million. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. During the same period in the prior year, the business earned $1.20 earnings per share. As a group, research analysts expect that Prosperity Bancshares, Inc. will post 5.05 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.96%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 49.26%.

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.