Uniting Wealth Partners LLC Makes New Investment in Prosperity Bancshares, Inc. (NYSE:PB)

Uniting Wealth Partners LLC bought a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,411 shares of the bank’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in Prosperity Bancshares by 487.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after acquiring an additional 312 shares during the period. Jones Financial Companies Lllp grew its holdings in 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 purchasing an additional 409 shares in the last quarter. UMB Bank n.a. grew its holdings in Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Prosperity Bancshares by 20.4% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after buying an additional 143 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position 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 buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $80.01, for a total transaction of $40,005.00. Following the sale, the director now owns 107,315 shares of the company’s stock, valued at $8,586,273.15. The trade was a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 5,000 shares of company stock worth $378,510. Insiders own 4.20% of the company’s stock.

Prosperity Bancshares Trading Up 1.2 %

Shares of Prosperity Bancshares stock opened at $71.54 on Thursday. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.76. The business’s 50 day simple moving average is $75.35 and its 200-day simple moving average is $76.12.

Prosperity Bancshares (NYSE:PB) last issued its earnings results 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 return on equity of 6.64% and a net margin of 26.79%. Sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.58 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.24%. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PB. UBS Group dropped their target price on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th. StockNews.com lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th. Raymond James raised their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Barclays upped their price target 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. Finally, Stephens raised their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.50.

Prosperity Bancshares Company 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.