Yousif Capital Management LLC Sells 895 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Yousif Capital Management LLC lowered its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,454 shares of the bank’s stock after selling 895 shares during the quarter. Yousif Capital Management LLC’s holdings in Prosperity Bancshares were worth $2,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in shares of Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after acquiring an additional 312 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Prosperity Bancshares by 368.5% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock valued at $39,000 after purchasing an additional 409 shares in the last quarter. Aster Capital Management DIFC Ltd grew its stake in Prosperity Bancshares by 349.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank’s stock worth $69,000 after purchasing an additional 713 shares during the period. First Horizon Advisors Inc. grew its stake in Prosperity Bancshares by 23.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank’s stock worth $76,000 after purchasing an additional 195 shares during the period. Finally, Quarry LP bought a new position in Prosperity Bancshares in the fourth quarter worth $88,000. 80.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 600 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $70.31, for a total value of $42,186.00. Following the transaction, the director now owns 45,400 shares of the company’s stock, valued at approximately $3,192,074. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 7,800 shares of company stock valued at $542,975. Company insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Prosperity Bancshares from $88.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. 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 note on Thursday, March 13th. Jefferies Financial Group began coverage on shares of Prosperity Bancshares in a report on Wednesday, May 21st. They set a “buy” rating and a $85.00 target price for the company. Wall Street Zen upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods lowered their price objective on Prosperity Bancshares from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.80.

Prosperity Bancshares Price Performance

Prosperity Bancshares stock opened at $67.57 on Friday. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76. The business’s fifty day moving average is $68.94 and its 200 day moving average is $73.58. The stock has a market capitalization of $6.44 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 0.94 and a beta of 0.68.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.02. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The firm had revenue of $306.68 million for the quarter, compared to the consensus estimate of $307.17 million. During the same quarter last year, the firm posted $1.18 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares’s dividend payout ratio is currently 44.19%.

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.