Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Teza Capital Management LLC

Teza Capital Management LLC cut its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 71.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,695 shares of the bank’s stock after selling 19,507 shares during the period. Teza Capital Management LLC’s holdings in Prosperity Bancshares were worth $580,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Prosperity Bancshares by 14.9% during the fourth quarter. Blue Trust Inc. now owns 987 shares of the bank’s stock worth $71,000 after purchasing an additional 128 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Prosperity Bancshares by 4.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,069 shares of the bank’s stock worth $229,000 after acquiring an additional 128 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Prosperity Bancshares by 3.8% during the fourth quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank’s stock worth $430,000 after acquiring an additional 194 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Prosperity Bancshares by 23.9% during the fourth quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank’s stock worth $76,000 after acquiring an additional 195 shares during the last quarter. Finally, Savant Capital LLC grew its position in shares of Prosperity Bancshares by 4.6% during the fourth quarter. Savant Capital LLC now owns 4,505 shares of the bank’s stock worth $339,000 after acquiring an additional 197 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Prosperity Bancshares Price Performance

Shares of PB opened at $72.67 on Tuesday. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76. The company has a 50-day moving average of $68.89 and a two-hundred day moving average of $75.07. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 0.94 and a beta of 0.70.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, April 23rd. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.35 by $0.02. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The company had revenue of $306.68 million during the quarter, compared to analysts’ expectations of $307.17 million. During the same period last year, the company posted $1.18 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares’s payout ratio is 44.19%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stephens upped their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Barclays decreased their target price on shares of Prosperity Bancshares from $88.00 to $86.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. StockNews.com upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Royal Bank of Canada decreased their target price on shares of Prosperity Bancshares from $85.00 to $78.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. Finally, Morgan Stanley decreased their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Prosperity Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $83.71.

Insiders Place Their Bets

In other news, Director Ned S. Holmes sold 500 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $63.62, for a total value of $31,810.00. Following the completion of the sale, the director now directly owns 102,815 shares of the company’s stock, valued at $6,541,090.30. This represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 5,500 shares of company stock worth $382,420 over the last ninety days. 4.20% of the stock is currently owned by company insiders.

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.