Mutual of America Capital Management LLC Sells 1,162 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Mutual of America Capital Management LLC cut its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,323 shares of the bank’s stock after selling 1,162 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Prosperity Bancshares worth $3,792,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Prosperity Bancshares by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank’s stock worth $123,162,000 after purchasing an additional 15,309 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Prosperity Bancshares by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,183,295 shares of the bank’s stock worth $85,280,000 after purchasing an additional 6,518 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Prosperity Bancshares by 6.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 889,219 shares of the bank’s stock worth $67,002,000 after purchasing an additional 53,654 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Prosperity Bancshares by 0.5% during the third quarter. Verition Fund Management LLC now owns 834,701 shares of the bank’s stock worth $60,157,000 after purchasing an additional 3,978 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Prosperity Bancshares by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 818,744 shares of the bank’s stock worth $59,007,000 after purchasing an additional 6,972 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Prosperity Bancshares

In related news, Director Harrison Stafford II sold 4,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the transaction, the director now owns 107,137 shares in the company, valued at $8,578,459.59. This represents a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ned S. Holmes sold 500 shares of the company’s 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 transaction, the director now owns 106,815 shares of the company’s stock, valued at approximately $8,363,614.50. This trade represents a 0.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,000 shares of company stock valued at $711,145 in the last ninety days. 4.28% of the stock is currently owned by corporate insiders.

Prosperity Bancshares Stock Performance

NYSE:PB opened at $73.91 on Thursday. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 0.94 and a beta of 0.94. The firm’s fifty day moving average is $77.41 and its two-hundred day moving average is $76.32.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, beating 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%. As a group, equities research analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s payout ratio is currently 45.85%.

Wall Street Analyst Weigh In

PB has been the topic of a number of recent analyst reports. Bank of America raised Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research report on Tuesday, January 7th. UBS Group dropped their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, December 26th. Barclays boosted their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Monday. Finally, Stephens boosted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $82.88.

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.