New York State Teachers Retirement System Decreases Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

New York State Teachers Retirement System lowered its position in Prosperity Bancshares, Inc. (NYSE:PB) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 108,671 shares of the bank’s stock after selling 4,427 shares during the period. New York State Teachers Retirement System’s holdings in Prosperity Bancshares were worth $8,188,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PB. UMB Bank n.a. grew its holdings in Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after purchasing an additional 300 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Prosperity Bancshares by 190.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after purchasing an additional 534 shares in the last quarter. GAMMA Investing LLC grew its stake in Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after buying an additional 143 shares during the last quarter. Blue Trust Inc. increased its position in Prosperity Bancshares by 181.6% during the 3rd quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock valued at $62,000 after buying an additional 554 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its stake in Prosperity Bancshares by 31.0% in the third quarter. Sunbelt Securities Inc. now owns 981 shares of the bank’s stock valued at $71,000 after buying an additional 232 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Harrison Stafford II sold 4,000 shares of Prosperity Bancshares stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $80.07, for a total value of $320,280.00. Following the sale, the director now owns 107,137 shares in the company, valued at $8,578,459.59. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $84.66, for a total transaction of $42,330.00. Following the transaction, the director now owns 113,315 shares of the company’s stock, valued at approximately $9,593,247.90. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,100 shares of company stock valued at $1,232,559. Company insiders own 4.28% of the company’s stock.

Prosperity Bancshares Price Performance

NYSE:PB opened at $78.47 on Wednesday. The company has a 50 day moving average price of $77.73 and a 200-day moving average price of $75.80. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.75. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 0.98 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data 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 net margin of 26.79% and a return on equity of 6.64%. On average, sell-side analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 2.96%. Prosperity Bancshares’s dividend payout ratio is currently 45.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PB shares. Royal Bank of Canada restated a “sector perform” rating and set a $77.00 price target on shares of Prosperity Bancshares in a research note on Thursday, October 24th. UBS Group cut 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 note on Thursday, December 26th. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Finally, Raymond James lifted their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

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.