MetLife Investment Advisors LLC trimmed its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,456 shares of the bank’s stock after selling 163 shares during the quarter. MetLife Investment Advisors LLC owned approximately 0.06% of Prosperity Bancshares worth $2,520,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the business. Paloma Partners Management Co boosted its stake in Prosperity Bancshares by 111.7% in the 4th quarter. Paloma Partners Management Co now owns 66,654 shares of the bank’s stock worth $4,153,000 after purchasing an additional 35,172 shares during the period. Pensionmark Financial Group LLC purchased a new position in Prosperity Bancshares in the fourth quarter valued at about $1,144,000. Bank of America Corp DE raised its position in Prosperity Bancshares by 52.8% in the fourth quarter. Bank of America Corp DE now owns 299,220 shares of the bank’s stock valued at $18,641,000 after purchasing an additional 103,338 shares during the period. Menta Capital LLC raised its position in Prosperity Bancshares by 161.2% in the fourth quarter. Menta Capital LLC now owns 12,800 shares of the bank’s stock valued at $797,000 after purchasing an additional 7,900 shares during the period. Finally, American International Group Inc. raised its position in Prosperity Bancshares by 0.3% in the fourth quarter. American International Group Inc. now owns 135,237 shares of the bank’s stock valued at $8,425,000 after purchasing an additional 366 shares during the period. 84.84% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PB traded down $0.65 during mid-day trading on Friday, reaching $71.50. The stock had a trading volume of 336,085 shares, compared to its average volume of 341,804. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 1.74 and a beta of 1.38. Prosperity Bancshares, Inc. has a 1-year low of $57.01 and a 1-year high of $76.92.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.64 dividend on an annualized basis and a yield of 2.29%. Prosperity Bancshares’s payout ratio is currently 35.57%.
A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Hovde Group lowered Prosperity Bancshares from an “outperform” rating to a “market perform” rating and set a $79.00 target price on the stock. in a research report on Friday, March 1st. Stephens reaffirmed a “hold” rating and set a $76.00 target price on shares of Prosperity Bancshares in a research report on Wednesday, February 13th. SunTrust Banks lifted their target price on Prosperity Bancshares to $84.00 and gave the stock a “buy” rating in a research report on Thursday, January 31st. Finally, Barclays lowered Prosperity Bancshares from an “overweight” rating to an “equal weight” rating and set a $71.00 target price on the stock. in a research report on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $75.57.
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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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