Strategic Financial Concepts LLC Invests $5.46 Million in Prosperity Bancshares, Inc. (NYSE:PB)

Strategic Financial Concepts LLC bought a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 72,506 shares of the bank’s stock, valued at approximately $5,463,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. lifted its position in Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Prosperity Bancshares by 47.9% in the third quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock worth $51,000 after buying an additional 227 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Prosperity Bancshares by 190.0% in the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after buying an additional 534 shares during the period. Blue Trust Inc. raised its holdings in Prosperity Bancshares by 181.6% during the 3rd quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock valued at $62,000 after buying an additional 554 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in Prosperity Bancshares by 31.0% during 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 period. 80.69% of the stock is currently owned by institutional investors.

Prosperity Bancshares Stock Performance

NYSE PB opened at $79.96 on Monday. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.75. The stock has a 50-day moving average of $78.24 and a 200 day moving average of $75.54. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 0.98 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. On average, equities 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. Shareholders of record on Friday, March 14th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is 45.85%.

Insiders Place Their Bets

In related news, Director Leah Henderson sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $83.24, for a total transaction of $91,564.00. Following the completion of the transaction, the director now directly owns 7,525 shares in the company, valued at approximately $626,381. The trade was a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $74.12, for a total transaction of $37,060.00. Following the sale, the director now owns 109,315 shares in the company, valued at approximately $8,102,427.80. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,600 shares of company stock valued at $1,276,109. Insiders own 4.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James upped their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. DA Davidson lowered Prosperity Bancshares from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $80.00 to $78.00 in a research report on Tuesday, October 15th. Barclays upped their target price on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Finally, UBS Group cut their price target 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $82.88.

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.