First National Bank of Omaha Invests $12.32 Million in Prosperity Bancshares, Inc. $PB

First National Bank of Omaha bought a new position in Prosperity Bancshares, Inc. (NYSE:PB) in the 2nd quarter, Holdings Channel.com reports. The firm bought 167,875 shares of the bank’s stock, valued at approximately $12,316,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Gator Capital Management LLC bought a new stake in Prosperity Bancshares during the fourth quarter worth about $2,051,000. Bull Harbor Capital LLC bought a new position in shares of Prosperity Bancshares during the 1st quarter valued at about $1,019,000. SummitTX Capital L.P. bought a new position in shares of Prosperity Bancshares during the 1st quarter valued at about $3,878,000. BW Gestao de Investimentos Ltda. purchased a new position in shares of Prosperity Bancshares during the 4th quarter valued at about $12,085,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Prosperity Bancshares during the 1st quarter valued at about $2,006,000. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Stock Down 0.2%

NYSE PB opened at $74.35 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $7.50 billion, a PE ratio of 12.89, a PEG ratio of 0.82 and a beta of 0.64. Prosperity Bancshares, Inc. has a 1 year low of $61.06 and a 1 year high of $77.20. The business’s 50-day moving average is $72.94 and its 200 day moving average is $70.46.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, July 29th. The bank reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.12. Prosperity Bancshares had a return on equity of 7.39% and a net margin of 29.95%.The business had revenue of $369.18 million during the quarter, compared to analyst estimates of $380.73 million. During the same quarter in the prior year, the company posted $1.42 EPS. Prosperity Bancshares’s quarterly revenue was up 25.9% compared to the same quarter last year. Sell-side analysts forecast that Prosperity Bancshares, Inc. will post 6.45 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.40 annualized dividend and a dividend yield of 3.2%. Prosperity Bancshares’s payout ratio is 41.59%.

Analyst Upgrades and Downgrades

PB has been the subject of several research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $80.00 target price (down from $85.00) on shares of Prosperity Bancshares in a research note on Monday, July 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price target on shares of Prosperity Bancshares in a research note on Tuesday, June 23rd. Weiss Ratings upgraded shares of Prosperity Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. Wall Street Zen raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Royal Bank Of Canada increased their target price on shares of Prosperity Bancshares from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Prosperity Bancshares currently has a consensus rating of “Hold” and a consensus price target of $78.36.

Insider Activity

In related news, Director Ned S. Holmes sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $69.30, for a total transaction of $41,580.00. Following the completion of the transaction, the director owned 40,400 shares in the company, valued at $2,799,720. This represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 11,000 shares of company stock worth $791,901 over the last 90 days. 3.96% of the stock is currently owned by insiders.

About Prosperity Bancshares

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.