Hudson Edge Investment Partners Inc. Acquires Shares of 14,157 Prosperity Bancshares, Inc. (NYSE:PB)

Hudson Edge Investment Partners Inc. purchased a new position in shares of Prosperity Bancshares, Inc. (NYSE:PB) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 14,157 shares of the bank’s stock, valued at approximately $1,067,000.

Several other institutional investors also recently modified their holdings of PB. Point72 Asset Management L.P. acquired a new stake in shares of Prosperity Bancshares during the 3rd quarter worth approximately $16,478,000. Jane Street Group LLC boosted its stake in Prosperity Bancshares by 418.0% during the 3rd quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock worth $8,039,000 after acquiring an additional 90,015 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Prosperity Bancshares during the 4th quarter worth approximately $5,463,000. Los Angeles Capital Management LLC bought a new position in Prosperity Bancshares during the 3rd quarter worth approximately $4,804,000. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Prosperity Bancshares by 6.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 889,219 shares of the bank’s stock worth $67,002,000 after acquiring an additional 53,654 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PB. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. UBS Group reduced their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Barclays lifted their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Finally, Stephens lifted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Insider Transactions at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $84.66, for a total transaction of $42,330.00. Following the transaction, the director now directly owns 113,315 shares in the company, valued at approximately $9,593,247.90. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harrison Stafford II sold 4,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $80.07, for a total transaction of $320,280.00. Following the transaction, the director now owns 107,137 shares in the company, valued at approximately $8,578,459.59. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,000 shares of company stock valued at $1,140,995 over the last 90 days. 4.28% of the stock is owned by corporate insiders.

Prosperity Bancshares Stock Down 1.3 %

Shares of PB stock opened at $76.50 on Friday. The company’s fifty day simple moving average is $77.46 and its 200-day simple moving average is $75.94. The firm has a market cap of $7.29 billion, a PE ratio of 15.12, a P/E/G ratio of 0.95 and a beta of 0.94. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data 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 5.82 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

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.