Natixis Advisors LLC Decreases Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Natixis Advisors LLC trimmed its position in Prosperity Bancshares, Inc. (NYSE:PB) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 209,298 shares of the bank’s stock after selling 2,827 shares during the quarter. Natixis Advisors LLC owned 0.22% of Prosperity Bancshares worth $15,771,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PB. Smartleaf Asset Management LLC increased its position in Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock valued at $28,000 after purchasing an additional 312 shares during the period. Jones Financial Companies Lllp increased its position in Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock valued at $39,000 after purchasing an additional 409 shares during the period. UMB Bank n.a. increased its position in Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after purchasing an additional 300 shares during the period. First Horizon Advisors Inc. increased its position in Prosperity Bancshares by 190.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock valued at $59,000 after purchasing an additional 534 shares during the period. Finally, GAMMA Investing LLC increased its position in Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after purchasing an additional 143 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Prosperity Bancshares Price Performance

Shares of Prosperity Bancshares stock opened at $70.49 on Wednesday. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.94 and a beta of 0.94. The firm’s 50-day moving average is $76.64 and its 200 day moving average is $76.25. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.76.

Prosperity Bancshares (NYSE:PB) last announced 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 analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company 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 3.29%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s payout ratio is 45.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stephens boosted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Tuesday, January 7th. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. UBS Group reduced 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 report on Thursday, December 26th. Finally, StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Prosperity Bancshares has a consensus rating of “Moderate Buy” and an average target price of $83.50.

Insider Buying and Selling at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $80.01, for a total transaction of $40,005.00. Following the transaction, the director now owns 107,315 shares in the company, valued at approximately $8,586,273.15. This represents a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 5,000 shares of company stock worth $382,665. Company insiders own 4.28% of the company’s stock.

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.