FJ Capital Management LLC Has $594,000 Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

FJ Capital Management LLC cut its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 93.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,881 shares of the bank’s stock after selling 108,717 shares during the period. FJ Capital Management LLC’s holdings in Prosperity Bancshares were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its stake in shares of Prosperity Bancshares by 487.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock valued at $28,000 after acquiring an additional 312 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Prosperity Bancshares by 368.5% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock valued at $39,000 after purchasing an additional 409 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Prosperity Bancshares by 102.7% during the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC increased its position in Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after purchasing an additional 143 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its stake in Prosperity Bancshares by 349.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank’s stock valued at $69,000 after acquiring an additional 713 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Prosperity Bancshares Price Performance

NYSE PB opened at $71.16 on Friday. The firm has a market cap of $6.78 billion, a P/E ratio of 14.06, a P/E/G ratio of 0.94 and a beta of 0.70. The stock’s 50-day moving average is $68.84 and its 200-day moving average is $75.08. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.02. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The business had revenue of $306.68 million for the quarter, compared to analysts’ expectations of $307.17 million. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 earnings per share. Equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS for the current 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 paid a dividend of $0.58 per share. The ex-dividend date is Friday, June 13th. This represents a $2.32 annualized dividend and a yield of 3.26%. Prosperity Bancshares’s dividend payout ratio is 44.19%.

Analyst Ratings Changes

Several brokerages recently commented on PB. Stephens boosted their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Barclays lowered their target price on shares of Prosperity Bancshares from $88.00 to $86.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their price target on Prosperity Bancshares from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Monday. Morgan Stanley lowered their price objective on Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Raymond James upped their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.71.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $73.62, for a total value of $36,810.00. Following the sale, the director now owns 105,315 shares in the company, valued at $7,753,290.30. This trade represents a 0.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 5,500 shares of company stock valued at $385,225. Company insiders own 4.20% of the company’s stock.

Prosperity Bancshares 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.