Venturi Wealth Management LLC Purchases 1,905 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Venturi Wealth Management LLC lifted its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 5,602.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,939 shares of the bank’s stock after purchasing an additional 1,905 shares during the quarter. Venturi Wealth Management LLC’s holdings in Prosperity Bancshares were worth $146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Prosperity Bancshares by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank’s stock worth $123,162,000 after acquiring an additional 15,309 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Prosperity Bancshares by 0.6% in 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 during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Prosperity Bancshares by 6.4% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 889,219 shares of the bank’s stock worth $67,002,000 after acquiring an additional 53,654 shares during the last quarter. Verition Fund Management LLC raised its holdings in shares of Prosperity Bancshares by 0.5% in 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 during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Prosperity Bancshares by 0.9% in 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 during the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

PB has been the topic of several recent analyst reports. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a research report 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 target price on the stock in a report on Tuesday, January 7th. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. UBS Group lowered their target price on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, December 26th. Finally, Raymond James boosted their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

Prosperity Bancshares Price Performance

PB stock opened at $76.50 on Friday. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.75. The company has a market cap of $7.29 billion, a P/E ratio of 15.12, a PEG ratio of 0.94 and a beta of 0.94. The firm has a 50-day moving average of $77.46 and a 200 day moving average of $75.97.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. On average, equities research analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s payout ratio is currently 45.85%.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $78.30, for a total value of $39,150.00. Following the sale, the director now owns 106,815 shares in the company, valued at approximately $8,363,614.50. This 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 can be accessed through this link. Also, Director Harrison Stafford II sold 4,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the sale, the director now owns 107,137 shares in the company, valued at approximately $8,578,459.59. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock valued at $1,140,995 over the last three months. Corporate insiders own 4.28% 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.