Northern Trust Corp increased its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 825,338 shares of the bank’s stock after buying an additional 3,787 shares during the period. Northern Trust Corp owned 1.18% of Prosperity Bancshares worth $59,944,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Prosperity Bancshares during the 4th quarter worth about $127,000. Icon Wealth Partners LLC bought a new position in shares of Prosperity Bancshares in the 4th quarter valued at about $177,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Prosperity Bancshares by 39.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,469 shares of the bank’s stock valued at $243,000 after purchasing an additional 980 shares during the last quarter. Timber Hill LLC bought a new position in shares of Prosperity Bancshares in the 4th quarter valued at about $274,000. Finally, Vestpro Financial Partners Inc. dba CPF Texas bought a new position in Prosperity Bancshares during the 4th quarter worth approximately $318,000. 77.63% of the stock is owned by institutional investors and hedge funds.

Several brokerages have commented on PB. ValuEngine downgraded shares of Prosperity Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Deutsche Bank raised their target price on shares of Prosperity Bancshares from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, May 4th. Zacks Investment Research raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 11th. Barclays reduced their target price on shares of Prosperity Bancshares from $79.00 to $78.00 and set an “overweight” rating for the company in a research report on Thursday, April 26th. Finally, DA Davidson reduced their target price on shares of Prosperity Bancshares from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, April 26th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $75.90.

In other Prosperity Bancshares news, insider Randy Hester sold 5,000 shares of Prosperity Bancshares stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $73.13, for a total value of $365,650.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ned S. Holmes sold 50,000 shares of Prosperity Bancshares stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $74.46, for a total value of $3,723,000.00. The disclosure for this sale can be found here. Company insiders own 5.05% of the company’s stock.

Shares of Prosperity Bancshares traded down $0.96, reaching $71.06, during trading on Friday, MarketBeat Ratings reports. 4,351 shares of the stock were exchanged, compared to its average volume of 362,306. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.58 and a beta of 1.31. Prosperity Bancshares, Inc. has a 1-year low of $55.84 and a 1-year high of $79.20.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, April 25th. The bank reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.07). The business had revenue of $181.16 million for the quarter, compared to analysts’ expectations of $180.97 million. Prosperity Bancshares had a net margin of 34.87% and a return on equity of 7.34%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share. research analysts anticipate that Prosperity Bancshares, Inc. will post 4.63 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 15th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, June 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.03%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 36.55%.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, 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; and consumer durables and home equity loans.

Institutional Ownership by Quarter for Prosperity Bancshares (NYSE:PB)

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