Prosperity Bancshares, Inc. (NYSE:PB) Shares Purchased by Olistico Wealth LLC

Olistico Wealth LLC raised its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 93.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,872 shares of the bank’s stock after buying an additional 1,388 shares during the period. Olistico Wealth LLC’s holdings in Prosperity Bancshares were worth $216,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quarry LP lifted its position in Prosperity Bancshares by 533.3% during the 2nd quarter. Quarry LP now owns 494 shares of the bank’s stock worth $30,000 after acquiring an additional 416 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Prosperity Bancshares by 102.7% during the fourth 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. GAMMA Investing LLC lifted its position in shares of Prosperity Bancshares by 47.9% during the third quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock worth $51,000 after purchasing an additional 227 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Prosperity Bancshares by 190.0% in the third 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, Blue Trust Inc. grew its holdings in Prosperity Bancshares by 181.6% during the 3rd quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock valued at $62,000 after purchasing an additional 554 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Leah Henderson sold 1,100 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $83.24, for a total value of $91,564.00. Following the completion of the transaction, the director now directly owns 7,525 shares of the company’s stock, valued at $626,381. This represents a 12.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $86.50, for a total value of $346,000.00. Following the completion of the transaction, the chairman now directly owns 229,953 shares of the company’s stock, valued at approximately $19,890,934.50. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,100 shares of company stock valued at $1,156,639. Insiders own 4.28% of the company’s stock.

Prosperity Bancshares Price Performance

PB stock opened at $78.84 on Thursday. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.12 and a beta of 0.93. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.75. The firm has a fifty day moving average price of $79.07 and a two-hundred day moving average price of $74.32.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. The business had revenue of $459.00 million during the quarter, compared to the consensus estimate of $299.83 million. During the same quarter in the prior year, the firm earned $1.20 EPS. As a group, analysts expect that Prosperity Bancshares, Inc. will post 5.05 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

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 dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.94%. Prosperity Bancshares’s payout ratio is 49.26%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PB. Royal Bank of Canada reiterated a “sector perform” rating and issued a $77.00 price objective on shares of Prosperity Bancshares in a report on Thursday, October 24th. UBS Group cut their price target on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Barclays lifted their price objective on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Finally, Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $81.38.

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.