ORG Partners LLC Has $414,000 Stake in Prosperity Bancshares, Inc. (NYSE:PB)

ORG Partners LLC grew its position in Prosperity Bancshares, Inc. (NYSE:PB) by 57.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,500 shares of the bank’s stock after buying an additional 2,000 shares during the period. ORG Partners LLC’s holdings in Prosperity Bancshares were worth $414,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in shares of Prosperity Bancshares during the 3rd quarter worth approximately $4,804,000. Prospector Partners LLC boosted its stake in Prosperity Bancshares by 24.6% in the third quarter. Prospector Partners LLC now owns 228,992 shares of the bank’s stock valued at $16,503,000 after acquiring an additional 45,177 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Prosperity Bancshares by 16.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 811,772 shares of the bank’s stock worth $49,632,000 after acquiring an additional 112,101 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Prosperity Bancshares during the 3rd quarter valued at $372,000. Finally, US Bancorp DE lifted its stake in shares of Prosperity Bancshares by 3.4% in the 3rd quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock valued at $340,000 after purchasing an additional 153 shares during the period. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays upped their price objective on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. StockNews.com cut Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday. Wedbush reissued an “outperform” rating and set a $90.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 target price on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Finally, UBS Group reduced their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Prosperity Bancshares has a consensus rating of “Hold” and a consensus target price of $81.38.

Insider Buying and Selling at Prosperity Bancshares

In related news, Chairman H E. Timanus, Jr. sold 4,000 shares of Prosperity Bancshares stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $86.50, for a total transaction of $346,000.00. Following the completion of the sale, the chairman now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $84.66, for a total value of $42,330.00. Following the completion of the transaction, the director now directly owns 113,315 shares in the company, valued at $9,593,247.90. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,600 shares of company stock worth $1,117,424 over the last quarter. 4.28% of the stock is currently owned by insiders.

Prosperity Bancshares Trading Down 1.7 %

PB opened at $73.39 on Friday. The stock has a market capitalization of $6.99 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.19 and a beta of 0.93. The firm’s fifty day simple moving average is $79.25 and its 200 day simple moving average is $73.12. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $299.83 million. During the same quarter in the previous year, the firm posted $1.20 earnings per share. On average, equities research analysts predict that Prosperity Bancshares, Inc. will post 5.05 EPS for the current fiscal year.

Prosperity Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.56. Prosperity Bancshares’s dividend payout ratio is presently 49.26%.

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.