Prosperity Bancshares, Inc. (PB) Shares Sold by Ramsey Quantitative Systems

Ramsey Quantitative Systems trimmed its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,691 shares of the bank’s stock after selling 424 shares during the quarter. Ramsey Quantitative Systems’ holdings in Prosperity Bancshares were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. First Mercantile Trust Co. increased its holdings in Prosperity Bancshares by 62.9% in the fourth quarter. First Mercantile Trust Co. now owns 570 shares of the bank’s stock worth $35,000 after buying an additional 220 shares during the last quarter. Huntington National Bank grew its holdings in Prosperity Bancshares by 17.8% during the fourth quarter. Huntington National Bank now owns 1,728 shares of the bank’s stock valued at $108,000 after purchasing an additional 261 shares during the last quarter. Diversified Trust Co grew its holdings in Prosperity Bancshares by 4.7% during the fourth quarter. Diversified Trust Co now owns 5,955 shares of the bank’s stock valued at $371,000 after purchasing an additional 265 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Prosperity Bancshares by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 86,023 shares of the bank’s stock valued at $5,359,000 after purchasing an additional 283 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Prosperity Bancshares by 11.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,426 shares of the bank’s stock valued at $276,000 after purchasing an additional 463 shares during the last quarter. 84.51% of the stock is owned by institutional investors and hedge funds.

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Several equities analysts have commented on the company. Stephens set a $70.00 price target on Prosperity Bancshares and gave the company a “hold” rating in a report on Wednesday, October 24th. SunTrust Banks lowered their price target on Prosperity Bancshares to $68.00 and set a “buy” rating on the stock in a report on Thursday, October 25th. They noted that the move was a valuation call. Zacks Investment Research upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, February 1st. Robert W. Baird upgraded Prosperity Bancshares from a “neutral” rating to an “outperform” rating in a report on Thursday, October 25th. Finally, Hovde Group upgraded Prosperity Bancshares from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a report on Wednesday, January 2nd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Prosperity Bancshares currently has a consensus rating of “Hold” and an average target price of $74.29.

Shares of Prosperity Bancshares stock opened at $74.43 on Tuesday. The firm has a market capitalization of $5.20 billion, a PE ratio of 16.15, a P/E/G ratio of 1.82 and a beta of 1.37. Prosperity Bancshares, Inc. has a 1 year low of $57.01 and a 1 year high of $79.20.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, January 30th. The bank reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. The business had revenue of $186.33 million for the quarter, compared to the consensus estimate of $188.17 million. Prosperity Bancshares had a net margin of 38.17% and a return on equity of 8.12%. Prosperity Bancshares’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company posted $0.99 earnings per share. Research analysts expect that Prosperity Bancshares, Inc. will post 4.82 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.64 annualized dividend and a dividend yield of 2.20%. Prosperity Bancshares’s payout ratio is 35.57%.

In related news, Vice Chairman H E. Timanus, Jr. acquired 5,000 shares of the stock in a transaction dated Monday, December 24th. The shares were acquired at an average price of $57.65 per share, for a total transaction of $288,250.00. Following the completion of the purchase, the insider now owns 147,447 shares in the company, valued at approximately $8,500,319.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.05% of the company’s stock.

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About Prosperity Bancshares

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.

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