Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. reduced its position in Prosperity Bancshares, Inc. (NYSE:PB) by 25.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 572,605 shares of the bank’s stock after selling 192,376 shares during the period. Deprince Race & Zollo Inc. owned about 0.60% of Prosperity Bancshares worth $43,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PB. Blue Trust Inc. boosted its holdings in Prosperity Bancshares by 14.9% in the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank’s stock worth $71,000 after buying an additional 128 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Prosperity Bancshares by 4.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,069 shares of the bank’s stock worth $229,000 after purchasing an additional 128 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 buying an additional 143 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Prosperity Bancshares by 3.8% in the fourth quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank’s stock valued at $430,000 after acquiring an additional 194 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in Prosperity Bancshares by 23.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank’s stock worth $76,000 after acquiring an additional 195 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PB shares. Barclays reduced their price objective on shares of Prosperity Bancshares from $88.00 to $86.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their price objective on shares of Prosperity Bancshares from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday. StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, April 24th. Royal Bank of Canada lowered their price target on Prosperity Bancshares from $85.00 to $78.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. Finally, Raymond James boosted their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.71.

Insider Transactions at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $63.62, for a total transaction of $31,810.00. Following the sale, the director now owns 102,815 shares of the company’s stock, valued at $6,541,090.30. The trade was a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 5,500 shares of company stock valued at $385,225. Corporate insiders own 4.20% of the company’s stock.

Prosperity Bancshares Stock Up 0.3 %

Shares of PB opened at $69.31 on Thursday. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.76. The stock has a 50 day moving average price of $68.94 and a 200 day moving average price of $75.08. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 0.94 and a beta of 0.70.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.02. The company had revenue of $306.68 million during the quarter, compared to the consensus estimate of $307.17 million. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. Prosperity Bancshares’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.18 earnings per share. On average, equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares’s payout ratio is 44.19%.

About Prosperity Bancshares

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.