Country Club Bank Sells 1,613 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Country Club Bank trimmed its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 2.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 79,357 shares of the bank’s stock after selling 1,613 shares during the quarter. Country Club Bank’s holdings in Prosperity Bancshares were worth $5,963,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Geode Capital Management LLC increased its stake in Prosperity Bancshares by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank’s stock worth $123,162,000 after purchasing an additional 15,309 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Prosperity Bancshares by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,183,295 shares of the bank’s stock worth $85,280,000 after acquiring an additional 6,518 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Prosperity Bancshares by 4.6% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 835,565 shares of the bank’s stock worth $60,219,000 after acquiring an additional 36,480 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of Prosperity Bancshares by 0.5% during the 3rd quarter. Verition Fund Management LLC now owns 834,701 shares of the bank’s stock worth $60,157,000 after acquiring an additional 3,978 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Prosperity Bancshares by 0.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 818,744 shares of the bank’s stock worth $59,007,000 after acquiring an additional 6,972 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Prosperity Bancshares Price Performance

Shares of Prosperity Bancshares stock opened at $80.22 on Wednesday. The business has a fifty day simple moving average of $78.46 and a two-hundred day simple moving average of $75.32. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.75. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 0.97 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts anticipate that Prosperity Bancshares, Inc. will post 5.8 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently announced 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. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is currently 45.85%.

Insider Transactions at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $79.92, for a total transaction of $39,960.00. Following the completion of the sale, the director now owns 107,815 shares of the company’s stock, valued at approximately $8,616,574.80. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of Prosperity Bancshares stock in a transaction on Monday, November 25th. The stock was sold at an average price of $86.50, for a total value of $346,000.00. Following the sale, the chairman now directly owns 229,953 shares of the company’s stock, valued at $19,890,934.50. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,100 shares of company stock valued at $1,236,104. 4.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PB has been the subject of several research reports. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. 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 target for the company in a research note on Tuesday, January 7th. Barclays increased their price objective on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Finally, Raymond James increased 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. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

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.