iSAM Funds UK Ltd Grows Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

iSAM Funds UK Ltd grew its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,540 shares of the bank’s stock after buying an additional 1,349 shares during the quarter. Prosperity Bancshares accounts for about 0.8% of iSAM Funds UK Ltd’s investment portfolio, making the stock its 28th largest holding. iSAM Funds UK Ltd’s holdings in Prosperity Bancshares were worth $1,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in shares of Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock valued at $28,000 after buying an additional 312 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock valued at $39,000 after buying an additional 409 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Prosperity Bancshares by 102.7% during the 4th 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. Aster Capital Management DIFC Ltd boosted its stake in shares of Prosperity Bancshares by 349.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank’s stock valued at $69,000 after buying an additional 713 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Prosperity Bancshares by 14.9% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank’s stock valued at $71,000 after buying an additional 128 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Barclays reduced their price target on shares of Prosperity Bancshares from $88.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Hovde Group reduced their price target on shares of Prosperity Bancshares from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Royal Bank of Canada reduced their price target on shares of Prosperity Bancshares from $85.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Finally, Raymond James raised their price target 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. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.71.

Prosperity Bancshares Stock Up 0.1%

PB stock opened at $72.67 on Tuesday. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.76. The firm’s 50-day simple moving average is $68.89 and its 200 day simple moving average is $75.07. The stock has a market cap of $6.92 billion, a PE ratio of 14.36, 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 for the quarter, topping analysts’ consensus estimates of $1.35 by $0.02. The business had revenue of $306.68 million for the quarter, compared to analysts’ expectations of $307.17 million. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 EPS. Equities analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business 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 3.19%. Prosperity Bancshares’s payout ratio is 44.19%.

Insider Buying and Selling at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $73.62, for a total transaction of $36,810.00. Following the transaction, the director now owns 105,315 shares of the company’s stock, valued at approximately $7,753,290.30. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 5,500 shares of company stock valued at $382,420. Company insiders own 4.20% of the company’s stock.

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.