Sather Financial Group Inc Sells 11,649 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Sather Financial Group Inc lowered its position in Prosperity Bancshares, Inc. (NYSE:PB) by 72.7% in the 4th quarter, Holdings Channel reports. The fund owned 4,378 shares of the bank’s stock after selling 11,649 shares during the quarter. Sather Financial Group Inc’s holdings in Prosperity Bancshares were worth $330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Prosperity Bancshares by 14.9% in the fourth quarter. Blue Trust Inc. now owns 987 shares of the bank’s stock worth $71,000 after purchasing an additional 128 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Prosperity Bancshares by 20.4% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after acquiring an additional 143 shares in the last quarter. M&T Bank Corp lifted its position in Prosperity Bancshares by 0.3% during the 3rd quarter. M&T Bank Corp now owns 45,392 shares of the bank’s stock valued at $3,272,000 after acquiring an additional 149 shares during the period. US Bancorp DE boosted its stake in Prosperity Bancshares by 3.4% during the third quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock worth $340,000 after acquiring an additional 153 shares in the last quarter. Finally, Savant Capital LLC grew its holdings in Prosperity Bancshares by 4.6% in the fourth quarter. Savant Capital LLC now owns 4,505 shares of the bank’s stock worth $339,000 after purchasing an additional 197 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Trading Up 1.1 %

Shares of Prosperity Bancshares stock opened at $79.56 on Wednesday. The firm has a market cap of $7.58 billion, a PE ratio of 15.72, a PEG ratio of 0.98 and a beta of 0.94. The stock has a 50 day moving average of $78.06 and a 200 day moving average of $75.63. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75.

Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, January 29th. The bank reported $1.37 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%. As a group, equities research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.58 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.92%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PB shares. StockNews.com upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Barclays increased their target price on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Finally, Raymond James increased their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Insider Activity

In other news, Chairman H E. Timanus, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $86.50, for a total transaction of $346,000.00. Following the transaction, the chairman now owns 229,953 shares of the company’s stock, valued at approximately $19,890,934.50. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $81.44, for a total value of $40,720.00. Following the sale, the director now directly owns 113,815 shares of the company’s stock, valued at $9,269,093.60. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,100 shares of company stock worth $1,234,129. 4.28% of the stock is currently owned by corporate insiders.

About 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.