Prosperity Bancshares, Inc. (NYSE:PB) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,358 shares of the bank’s stock after purchasing an additional 841 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Prosperity Bancshares were worth $1,233,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in shares of Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock valued at $28,000 after purchasing an additional 312 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock worth $39,000 after acquiring an additional 409 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after acquiring an additional 300 shares during the period. First Horizon Advisors Inc. increased its stake in Prosperity Bancshares by 190.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock valued at $59,000 after purchasing an additional 534 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Prosperity Bancshares by 20.4% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after purchasing an additional 143 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Prosperity Bancshares Stock Performance

Shares of PB stock opened at $71.34 on Thursday. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76. The company has a 50 day moving average price of $76.58 and a 200 day moving average price of $76.21.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate 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 analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company 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 dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s payout ratio is currently 45.85%.

Insider Buying and Selling

In related news, Director Ned S. Holmes sold 500 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $70.86, for a total value of $35,430.00. Following the completion of the sale, the director now directly owns 104,315 shares in the company, valued at approximately $7,391,760.90. This represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 5,500 shares of company stock valued at $418,095. 4.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PB has been the subject of a number of research analyst reports. Barclays raised their price target on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday. Stephens raised 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. Bank of America raised 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. Finally, UBS Group dropped their price target on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.50.

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.