Keeley Teton Advisors LLC Has $2.35 Million Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Keeley Teton Advisors LLC lowered its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 5.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,220 shares of the bank’s stock after selling 1,797 shares during the quarter. Keeley Teton Advisors LLC’s holdings in Prosperity Bancshares were worth $2,352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in Prosperity Bancshares by 487.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after acquiring an additional 312 shares during the period. Jones Financial Companies Lllp grew its position 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 purchasing an additional 409 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Prosperity Bancshares by 102.7% during the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after purchasing an additional 300 shares during the period. GAMMA Investing LLC raised 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 buying 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% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank’s stock valued at $69,000 after buying an additional 713 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PB shares. Morgan Stanley lowered their price objective 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. UBS Group decreased their price target on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, April 10th. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a report on Tuesday, January 7th. Finally, Stephens upped their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Prosperity Bancshares currently has an average rating of “Moderate Buy” and an average target price of $83.35.

Prosperity Bancshares Price Performance

Shares of NYSE:PB opened at $65.89 on Wednesday. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 0.94 and a beta of 0.82. The firm has a 50 day simple moving average of $72.14 and a 200 day simple moving average of $75.55.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates 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, analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Friday, March 14th. Prosperity Bancshares’s payout ratio is currently 45.85%.

Insider Transactions at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $79.01, for a total value of $39,505.00. Following the transaction, the director now owns 108,315 shares in the company, valued at $8,557,968.15. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 5,000 shares of company stock worth $369,480. Company insiders own 4.20% of the company’s stock.

About Prosperity Bancshares

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.