GHP Investment Advisors Inc. Sells 215 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

GHP Investment Advisors Inc. decreased its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 1.2% in the 4th quarter, Holdings Channel reports. The fund owned 17,752 shares of the bank’s stock after selling 215 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Prosperity Bancshares were worth $1,338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Choreo LLC bought a new position in Prosperity Bancshares during the 4th quarter worth about $240,000. Tectonic Advisors LLC boosted its position in shares of Prosperity Bancshares by 15.5% during the fourth quarter. Tectonic Advisors LLC now owns 8,154 shares of the bank’s stock worth $614,000 after buying an additional 1,096 shares during the period. Trust Point Inc. grew its holdings in shares of Prosperity Bancshares by 40.2% during the fourth quarter. Trust Point Inc. now owns 4,770 shares of the bank’s stock worth $359,000 after buying an additional 1,367 shares in the last quarter. Hodges Capital Management Inc. grew its holdings in shares of Prosperity Bancshares by 4.9% during the fourth quarter. Hodges Capital Management Inc. now owns 147,231 shares of the bank’s stock worth $11,094,000 after buying an additional 6,902 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in Prosperity Bancshares by 1.8% in the 4th quarter. Pacer Advisors Inc. now owns 14,202 shares of the bank’s stock valued at $1,070,000 after buying an additional 247 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on PB. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $77.00 price target on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Barclays lifted their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. StockNews.com upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Stephens lifted their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $82.88.

Insider Buying and Selling

In related news, Director Leah Henderson sold 1,100 shares of Prosperity Bancshares stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $83.24, for a total transaction of $91,564.00. Following the completion of the sale, the director now directly owns 7,525 shares of the company’s stock, valued at approximately $626,381. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed 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 on Wednesday, November 13th. The shares were sold at an average price of $83.96, for a total value of $41,980.00. Following the completion of the transaction, the director now directly owns 114,315 shares in the company, valued at approximately $9,597,887.40. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,600 shares of company stock valued at $1,276,109. Company insiders own 4.28% of the company’s stock.

Prosperity Bancshares Stock Down 0.9 %

Shares of NYSE PB opened at $79.96 on Friday. The business’s 50 day moving average price is $78.31 and its two-hundred day moving average price is $75.39. The company has a market cap of $7.62 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.75.

Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping 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, research analysts anticipate that Prosperity Bancshares, Inc. will post 5.8 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

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.