Trexquant Investment LP Purchases 1,879 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Trexquant Investment LP boosted its position in Prosperity Bancshares, Inc. (NYSE:PB) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,108 shares of the bank’s stock after acquiring an additional 1,879 shares during the quarter. Trexquant Investment LP’s holdings in Prosperity Bancshares were worth $912,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PB. Norges Bank bought a new position in Prosperity Bancshares in the fourth quarter valued at approximately $68,986,000. Raymond James Financial Inc. bought a new stake in shares of Prosperity Bancshares during the fourth quarter worth $8,643,000. Jane Street Group LLC grew its stake in shares of Prosperity Bancshares by 418.0% during the third quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock worth $8,039,000 after buying an additional 90,015 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Prosperity Bancshares during the fourth quarter worth $5,463,000. Finally, Boston Partners grew its stake in shares of Prosperity Bancshares by 32.6% during the fourth quarter. Boston Partners now owns 255,380 shares of the bank’s stock worth $19,249,000 after buying an additional 62,746 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PB. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Tuesday, January 7th. Barclays decreased 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 note on Tuesday. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. Stephens boosted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, UBS Group reduced their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.35.

Prosperity Bancshares Trading Down 5.0 %

Shares of PB opened at $64.05 on Friday. The stock has a market capitalization of $6.10 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The firm’s fifty day simple moving average is $73.04 and its two-hundred day simple moving average is $75.67. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76.

Prosperity Bancshares (NYSE:PB) last issued its quarterly 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 net margin of 26.79% and a return on equity of 6.64%. As a group, research analysts predict that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.58 per share. The ex-dividend date was Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 3.62%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 45.85%.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $79.01, for a total transaction of $39,505.00. Following the transaction, the director now owns 108,315 shares of the company’s stock, valued at $8,557,968.15. This represents a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 5,500 shares of company stock valued at $408,695. 4.20% of the stock is currently owned by insiders.

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.