Prosperity Bancshares, Inc. (NYSE:PB) Stock Holdings Reduced by Amica Retiree Medical Trust

Amica Retiree Medical Trust lessened its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 16.6% in the 4th quarter, Holdings Channel reports. The firm owned 15,413 shares of the bank’s stock after selling 3,068 shares during the quarter. Prosperity Bancshares accounts for 1.1% of Amica Retiree Medical Trust’s portfolio, making the stock its 20th biggest holding. Amica Retiree Medical Trust’s holdings in Prosperity Bancshares were worth $1,161,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Loomis Sayles & Co. L P lifted its holdings in shares of Prosperity Bancshares by 1.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 426,400 shares of the bank’s stock valued at $32,129,000 after acquiring an additional 5,226 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Prosperity Bancshares by 10.5% during the 4th quarter. JPMorgan Chase & Co. now owns 273,936 shares of the bank’s stock valued at $20,641,000 after purchasing an additional 26,122 shares in the last quarter. Vanguard Group Inc. increased its holdings in Prosperity Bancshares by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,780,006 shares of the bank’s stock worth $736,923,000 after purchasing an additional 44,567 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Prosperity Bancshares in the fourth quarter valued at $235,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Prosperity Bancshares during the 4th quarter worth approximately $1,471,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Trading Down 0.5 %

Shares of PB stock opened at $71.69 on Thursday. The company’s 50-day moving average price is $76.12 and its 200-day moving average price is $76.16. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 14.17, 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.

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

Prosperity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.24%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

Insider Buying and Selling at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $74.12, for a total value of $37,060.00. Following the completion of the sale, the director now directly owns 109,315 shares of the company’s stock, valued at $8,102,427.80. The trade was a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 5,000 shares of company stock worth $380,075 in the last 90 days. 4.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PB shares. UBS Group lowered their target price on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Barclays lifted their target price on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th. Bank of America raised Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Tuesday, January 7th. Finally, Raymond James lifted their price objective 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. One equities 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.