Forum Financial Management LP Acquires New Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Forum Financial Management LP bought a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 3,207 shares of the bank’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its stake in shares of Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after purchasing an additional 312 shares in the last quarter. Jones Financial Companies Lllp increased its position in Prosperity Bancshares by 368.5% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock worth $39,000 after buying an additional 409 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of 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 acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after acquiring an additional 143 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its stake in shares of Prosperity Bancshares by 349.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank’s stock valued at $69,000 after acquiring an additional 713 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PB shares. Stephens boosted their target price on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. UBS Group cut their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. Bank of America upgraded 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 report on Tuesday, January 7th. Raymond James increased their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley lowered their price objective on Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Prosperity Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $83.35.

Insider Buying and Selling at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $80.01, for a total value of $40,005.00. Following the completion of the sale, the director now owns 107,315 shares of the company’s stock, valued at $8,586,273.15. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 5,000 shares of company stock valued at $362,910 over the last three months. 4.20% of the stock is owned by company insiders.

Prosperity Bancshares Stock Performance

Shares of NYSE:PB opened at $67.14 on Wednesday. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.76. The stock has a 50-day simple moving average of $70.85 and a 200-day simple moving average of $75.39. The stock has a market capitalization of $6.40 billion, a P/E ratio of 13.27, a PEG ratio of 0.94 and a beta of 0.82.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. Analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

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.