Sather Financial Group Inc Sells 11,649 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Sather Financial Group Inc decreased its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 72.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,378 shares of the bank’s stock after selling 11,649 shares during the period. Sather Financial Group Inc’s holdings in Prosperity Bancshares were worth $330,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Prosperity Bancshares by 47.9% in the third quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock valued at $51,000 after purchasing an additional 227 shares during the last quarter. CWM LLC raised its stake in shares of Prosperity Bancshares by 29.3% in the third quarter. CWM LLC now owns 7,803 shares of the bank’s stock valued at $562,000 after buying an additional 1,766 shares during the period. Creative Planning lifted its position in shares of Prosperity Bancshares by 17.2% during the 3rd quarter. Creative Planning now owns 3,909 shares of the bank’s stock valued at $282,000 after buying an additional 574 shares during the last quarter. NBC Securities Inc. grew its stake in shares of Prosperity Bancshares by 36.1% during the 3rd quarter. NBC Securities Inc. now owns 6,004 shares of the bank’s stock worth $432,000 after acquiring an additional 1,594 shares during the period. Finally, Hunter Perkins Capital Management LLC grew its stake in shares of Prosperity Bancshares by 2.8% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 159,220 shares of the bank’s stock worth $11,530,000 after acquiring an additional 4,265 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Prosperity Bancshares Stock Up 1.1 %

NYSE PB opened at $79.56 on Wednesday. The stock’s 50-day simple moving average is $78.06 and its two-hundred day simple moving average is $75.63. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.75. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.98 and a beta of 0.94.

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

Prosperity Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.58 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.92%. Prosperity Bancshares’s dividend payout ratio (DPR) is 45.85%.

Wall Street Analyst Weigh In

Several research firms have commented on PB. Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 price objective on shares of Prosperity Bancshares in a report on Thursday, October 24th. DA Davidson lowered shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $80.00 to $78.00 in a research note on Tuesday, October 15th. Raymond James increased their target price on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Barclays lifted their price target on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Seven research 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Insider Activity at Prosperity Bancshares

In other news, Chairman H E. Timanus, Jr. sold 4,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $86.50, for a total transaction of $346,000.00. Following the completion of the sale, the chairman now owns 229,953 shares of the company’s stock, valued at approximately $19,890,934.50. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 $9,269,093.60. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,100 shares of company stock valued at $1,234,129. 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.