Handelsbanken Fonder AB Has $1.77 Million Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Handelsbanken Fonder AB grew its position in Prosperity Bancshares, Inc. (NYSE:PB) by 12.4% during the 4th quarter, HoldingsChannel reports. The firm owned 23,531 shares of the bank’s stock after purchasing an additional 2,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Prosperity Bancshares were worth $1,773,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PB. Ieq Capital LLC bought a new stake in Prosperity Bancshares in the 4th quarter valued at $381,000. Venturi Wealth Management LLC increased its stake in shares of Prosperity Bancshares by 5,602.9% during the 4th quarter. Venturi Wealth Management LLC now owns 1,939 shares of the bank’s stock worth $146,000 after purchasing an additional 1,905 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Prosperity Bancshares during the 4th quarter worth about $210,000. Sanctuary Advisors LLC increased its stake in shares of Prosperity Bancshares by 3.8% during the 4th quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank’s stock worth $430,000 after purchasing an additional 194 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Prosperity Bancshares in the 4th quarter valued at about $5,463,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Prosperity Bancshares Trading Up 0.4 %

NYSE:PB opened at $76.55 on Wednesday. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.94 and a beta of 0.94. The firm has a fifty day simple moving average of $77.34 and a two-hundred day simple moving average of $76.11. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75.

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

Prosperity Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 dividend yield of 3.03%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is 45.85%.

Insider Buying and Selling at Prosperity Bancshares

In related news, Director Harrison Stafford II sold 4,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $80.07, for a total transaction of $320,280.00. Following the transaction, the director now directly owns 107,137 shares of the company’s stock, valued at $8,578,459.59. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $82.17, for a total transaction of $41,085.00. Following the transaction, the director now directly owns 111,315 shares in the company, valued at $9,146,753.55. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,500 shares of company stock valued at $752,665. Corporate insiders own 4.28% of the company’s stock.

Analyst Ratings Changes

PB has been the topic of a number of research reports. Stephens upped their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. 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 report on Tuesday, January 7th. Barclays upped their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Finally, Raymond James upped their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Prosperity Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

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.