Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC reduced its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 156,375 shares of the bank’s stock after selling 2,845 shares during the period. Prosperity Bancshares comprises about 2.5% of Hunter Perkins Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Hunter Perkins Capital Management LLC’s holdings in Prosperity Bancshares were worth $11,838,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PB. Quarry LP grew its position in Prosperity Bancshares by 533.3% in the second quarter. Quarry LP now owns 494 shares of the bank’s stock worth $30,000 after buying an additional 416 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Prosperity Bancshares by 47.9% during the third quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock worth $51,000 after purchasing an additional 227 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Prosperity Bancshares by 190.0% during the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock valued at $59,000 after purchasing an additional 534 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Prosperity Bancshares by 181.6% in the 3rd quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock valued at $62,000 after purchasing an additional 554 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Prosperity Bancshares Price Performance

Shares of Prosperity Bancshares stock opened at $79.13 on Monday. The stock has a 50-day simple moving average of $78.93 and a 200-day simple moving average of $74.67. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.75. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 1.11 and a beta of 0.93.

Prosperity Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is 49.26%.

Insider Transactions at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $83.96, for a total value of $41,980.00. Following the completion of the sale, the director now owns 114,315 shares of the company’s stock, valued at $9,597,887.40. 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 available at this hyperlink. Also, Director Leah Henderson sold 1,100 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $83.24, for a total value of $91,564.00. Following the transaction, the director now directly owns 7,525 shares in the company, valued at approximately $626,381. This represents a 12.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,600 shares of company stock worth $1,196,144 in the last 90 days. 4.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PB shares. Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Tuesday, January 7th. 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 report on Friday, December 20th. StockNews.com lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Finally, DA Davidson downgraded Prosperity Bancshares from a “buy” rating to a “neutral” rating and lowered their price target for the company from $80.00 to $78.00 in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Prosperity Bancshares presently has a consensus rating of “Hold” and an average price target of $81.38.

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.