GHP Investment Advisors Inc. Has $1.34 Million Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

GHP Investment Advisors Inc. cut its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,752 shares of the bank’s stock after selling 215 shares during the period. GHP Investment Advisors Inc.’s holdings in Prosperity Bancshares were worth $1,338,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Prosperity Bancshares by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank’s stock valued at $123,162,000 after purchasing an additional 15,309 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $85,280,000 after buying an additional 6,518 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Prosperity Bancshares by 4.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 835,565 shares of the bank’s stock valued at $60,219,000 after buying an additional 36,480 shares in the last quarter. Verition Fund Management LLC grew its position in Prosperity Bancshares by 0.5% in the third quarter. Verition Fund Management LLC now owns 834,701 shares of the bank’s stock valued at $60,157,000 after acquiring an additional 3,978 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in 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 acquiring an additional 6,972 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $81.44, for a total transaction of $40,720.00. Following the completion of the transaction, the director now owns 113,815 shares in the company, valued at approximately $9,269,093.60. The trade was a 0.44 % 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 stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,600 shares of company stock valued at $1,276,109 over the last three months. Company insiders own 4.28% of the company’s stock.

Prosperity Bancshares Trading Down 0.9 %

Prosperity Bancshares stock opened at $79.96 on Friday. The company has a market cap of $7.62 billion, a PE ratio of 15.80, a PEG ratio of 0.97 and a beta of 0.94. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.75. The company’s 50-day moving average is $78.31 and its two-hundred day moving average is $75.39.

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

Prosperity Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.58 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 2.90%. Prosperity Bancshares’s dividend payout ratio is currently 45.85%.

Wall Street Analyst Weigh In

PB has been the topic of several analyst reports. Stephens upped their target price on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. UBS Group decreased their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Barclays increased their price target on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $77.00 price objective on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

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.