Securian Asset Management Inc. Sells 206 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Securian Asset Management Inc. reduced its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,201 shares of the bank’s stock after selling 206 shares during the quarter. Securian Asset Management Inc.’s holdings in Prosperity Bancshares were worth $543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PB. Smartleaf Asset Management LLC lifted its position in shares of Prosperity Bancshares by 487.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock valued at $28,000 after purchasing an additional 312 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock valued at $39,000 after buying an additional 409 shares during the last quarter. UMB Bank n.a. boosted its position in Prosperity Bancshares by 102.7% during the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after purchasing an additional 300 shares during the period. First Horizon Advisors Inc. raised its holdings in Prosperity Bancshares by 190.0% during 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 period. Finally, GAMMA Investing LLC lifted its holdings in Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after purchasing an additional 143 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Activity at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $76.04, for a total transaction of $38,020.00. Following the completion of the transaction, the director now directly owns 110,315 shares of the company’s stock, valued at $8,388,352.60. The trade was a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 5,500 shares of company stock worth $421,905. 4.28% of the stock is owned by company insiders.

Prosperity Bancshares Price Performance

Shares of NYSE:PB opened at $70.84 on Tuesday. The company has a market cap of $6.75 billion, a P/E ratio of 14.00, a PEG ratio of 0.94 and a beta of 0.94. The stock’s fifty day moving average price is $76.71 and its 200-day moving average price is $76.27. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.76.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. On average, sell-side analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.28%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. StockNews.com raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a report on Tuesday, January 7th. Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Morgan Stanley cut their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Stephens increased their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.50.

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.