Oak Thistle LLC acquired a new stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 9,774 shares of the bank's stock, valued at approximately $736,000.
Other hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its stake in Prosperity Bancshares by 1.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 24,709 shares of the bank's stock worth $1,862,000 after buying an additional 387 shares during the period. ORG Partners LLC grew its stake in shares of Prosperity Bancshares by 57.1% in the fourth quarter. ORG Partners LLC now owns 5,500 shares of the bank's stock worth $414,000 after acquiring an additional 2,000 shares in the last quarter. First Hawaiian Bank increased its position in shares of Prosperity Bancshares by 47.5% during the fourth quarter. First Hawaiian Bank now owns 4,612 shares of the bank's stock worth $348,000 after acquiring an additional 1,485 shares during the period. GAMMA Investing LLC raised its stake in shares of Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock valued at $64,000 after acquiring an additional 143 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Prosperity Bancshares by 40.6% in the third quarter. Franklin Resources Inc. now owns 34,411 shares of the bank's stock valued at $2,509,000 after acquiring an additional 9,935 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.
In other Prosperity Bancshares news, Director Harrison Stafford II sold 4,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the sale, the director now directly owns 107,137 shares of the company's stock, valued at approximately $8,578,459.59. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $74.12, for a total value of $37,060.00. Following the completion of the transaction, the director now owns 109,315 shares in the company, valued at $8,102,427.80. This trade represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,600 shares of company stock valued at $1,117,424 in the last ninety days. 4.28% of the stock is currently owned by company insiders.
NYSE PB opened at $78.73 on Thursday. The company has a fifty day moving average of $79.33 and a two-hundred day moving average of $73.67. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.75. The company has a market capitalization of $7.50 billion, a PE ratio of 16.72, a P/E/G ratio of 1.19 and a beta of 0.93.
Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. The firm had revenue of $459.00 million for the quarter, compared to the consensus estimate of $299.83 million. During the same quarter last year, the business posted $1.20 EPS. On average, research analysts expect that Prosperity Bancshares, Inc. will post 5.05 earnings per share for the current year.
Several brokerages have weighed in on PB. Wolfe Research restated a "peer perform" rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. DA Davidson lowered shares of Prosperity Bancshares from a "buy" rating to a "neutral" rating and cut their target price for the stock from $80.00 to $78.00 in a research note on Tuesday, October 15th. Bank of America raised shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a report on Tuesday, January 7th. StockNews.com cut shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. Finally, Barclays raised their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $81.38.
Check Out Our Latest Analysis on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Prosperity Bancshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Prosperity Bancshares wasn't on the list.
While Prosperity Bancshares currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.