Strategic Financial Concepts LLC Makes New Investment in Prosperity Bancshares, Inc. (NYSE:PB)

Strategic Financial Concepts LLC acquired a new stake in Prosperity Bancshares, Inc. (NYSE:PB) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 72,506 shares of the bank’s stock, valued at approximately $5,463,000. Strategic Financial Concepts LLC owned approximately 0.08% of Prosperity Bancshares as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. grew its stake in Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after acquiring an additional 300 shares during the period. GAMMA Investing LLC grew its position in Prosperity Bancshares by 47.9% in the 3rd 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 period. First Horizon Advisors Inc. raised its holdings in Prosperity Bancshares by 190.0% during the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after buying an additional 534 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Prosperity Bancshares by 181.6% in the third quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock valued at $62,000 after buying an additional 554 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in shares of Prosperity Bancshares by 31.0% during the third quarter. Sunbelt Securities Inc. now owns 981 shares of the bank’s stock valued at $71,000 after buying an additional 232 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PB shares. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Barclays raised their target price on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Bank of America upgraded Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Tuesday, January 7th. DA Davidson cut Prosperity Bancshares from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $78.00 in a research note on Tuesday, October 15th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Prosperity Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Insider Activity

In other news, Director Ned S. Holmes sold 500 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $81.44, for a total value of $40,720.00. Following the transaction, the director now owns 113,815 shares of the company’s stock, valued at $9,269,093.60. This represents a 0.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harrison Stafford II sold 4,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $80.07, for a total transaction of $320,280.00. Following 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,600 shares of company stock worth $1,276,109. 4.28% of the stock is owned by company insiders.

Prosperity Bancshares Stock Down 0.9 %

Prosperity Bancshares stock opened at $79.96 on Monday. The company has a market capitalization of $7.62 billion, a P/E ratio of 15.80, a P/E/G ratio of 0.98 and a beta of 0.94. The firm has a 50 day moving average price of $78.24 and a 200-day moving average price of $75.54. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.75.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 2.90%. Prosperity Bancshares’s dividend payout ratio (DPR) is 45.85%.

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.