Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its position in Prosperity Bancshares, Inc. (NYSE:PB) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,883 shares of the bank’s stock after selling 1,500 shares during the quarter. Janus Henderson Group PLC’s holdings in Prosperity Bancshares were worth $3,307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fiduciary Trust Co purchased a new stake in Prosperity Bancshares in the 4th quarter valued at approximately $234,000. Deutsche Bank AG raised its holdings in shares of Prosperity Bancshares by 10.6% in the fourth quarter. Deutsche Bank AG now owns 6,194 shares of the bank’s stock worth $467,000 after acquiring an additional 592 shares during the last quarter. Dean Capital Management lifted its position in shares of Prosperity Bancshares by 21.7% in the fourth quarter. Dean Capital Management now owns 29,081 shares of the bank’s stock valued at $2,191,000 after acquiring an additional 5,178 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Prosperity Bancshares by 5.9% during the fourth quarter. Cetera Investment Advisers now owns 7,675 shares of the bank’s stock valued at $578,000 after acquiring an additional 427 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of Prosperity Bancshares during the fourth quarter valued at $672,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Hovde Group reduced their target price on shares of Prosperity Bancshares from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Royal Bank of Canada reduced their price objective on shares of Prosperity Bancshares from $85.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. Raymond James raised their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. StockNews.com upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, Morgan Stanley reduced their price target on Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Prosperity Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $83.71.

Insider Activity

In other news, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $63.62, for a total value of $31,810.00. Following the completion of the sale, the director now owns 102,815 shares in the company, valued at approximately $6,541,090.30. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 5,500 shares of company stock valued at $382,420. Company insiders own 4.20% of the company’s stock.

Prosperity Bancshares Price Performance

Shares of NYSE:PB opened at $72.67 on Tuesday. The business has a 50-day moving average of $68.89 and a two-hundred day moving average of $75.07. The firm has a market capitalization of $6.92 billion, a PE ratio of 14.36, a P/E/G ratio of 0.94 and a beta of 0.70. 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 earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.02. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. The business had revenue of $306.68 million during the quarter, compared to analysts’ expectations of $307.17 million. During the same quarter in the previous year, the business earned $1.18 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares’s payout ratio is currently 44.19%.

Prosperity Bancshares Company 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.