Y Intercept Hong Kong Ltd Invests $995,000 in Prosperity Bancshares, Inc. (NYSE:PB)

Y Intercept Hong Kong Ltd acquired a new stake in Prosperity Bancshares, Inc. (NYSE:PB) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,208 shares of the bank’s stock, valued at approximately $995,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in Prosperity Bancshares in the third quarter valued at about $4,804,000. Prospector Partners LLC increased its stake in shares of Prosperity Bancshares by 24.6% during the third quarter. Prospector Partners LLC now owns 228,992 shares of the bank’s stock worth $16,503,000 after purchasing an additional 45,177 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Prosperity Bancshares by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 818,744 shares of the bank’s stock worth $59,007,000 after purchasing an additional 6,972 shares during the period. Sanctuary Advisors LLC acquired a new stake in Prosperity Bancshares during the third quarter worth approximately $372,000. Finally, US Bancorp DE boosted its holdings in shares of Prosperity Bancshares by 3.4% in the 3rd quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock valued at $340,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at Prosperity Bancshares

In related news, Director Harrison Stafford II sold 4,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $80.07, for a total value of $320,280.00. Following the completion of the transaction, the director now directly owns 107,137 shares of the company’s stock, valued at $8,578,459.59. This represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $82.17, for a total transaction of $41,085.00. Following the completion of the transaction, the director now directly owns 111,315 shares of the company’s stock, valued at approximately $9,146,753.55. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,500 shares of company stock worth $752,665 over the last three months. Company insiders own 4.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PB shares. StockNews.com raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Stephens raised their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Raymond James lifted their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. UBS Group cut their target price on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Finally, Barclays lifted their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Prosperity Bancshares Stock Performance

Prosperity Bancshares stock opened at $76.72 on Friday. The stock has a market cap of $7.31 billion, a P/E ratio of 15.16, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.75. The firm’s fifty day moving average price is $77.36 and its 200-day moving average price is $76.11.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. Sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.02%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

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.