Vaughan Nelson Investment Management L.P. Acquires 53,654 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Vaughan Nelson Investment Management L.P. increased its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 889,219 shares of the bank’s stock after purchasing an additional 53,654 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Prosperity Bancshares were worth $67,002,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PB. UMB Bank n.a. boosted its holdings in shares of Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC lifted its position in Prosperity Bancshares by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock worth $51,000 after buying an additional 227 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Prosperity Bancshares by 190.0% in the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after buying an additional 534 shares in the last quarter. Blue Trust Inc. grew its position in Prosperity Bancshares by 181.6% during the third quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock valued at $62,000 after acquiring an additional 554 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its stake in shares of Prosperity Bancshares by 31.0% during the third quarter. Sunbelt Securities Inc. now owns 981 shares of the bank’s stock worth $71,000 after acquiring an additional 232 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Prosperity Bancshares news, Chairman H E. Timanus, Jr. sold 4,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $86.50, for a total value of $346,000.00. Following the sale, the chairman now owns 229,953 shares in the company, valued at approximately $19,890,934.50. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $81.44, for a total transaction of $40,720.00. Following the transaction, the director now directly owns 113,815 shares of the company’s stock, valued at $9,269,093.60. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,600 shares of company stock valued at $1,276,109 over the last ninety days. Company insiders own 4.28% of the company’s stock.

Prosperity Bancshares Trading Down 0.9 %

Shares of NYSE PB opened at $79.96 on Friday. The firm has a fifty day simple moving average of $78.24 and a two-hundred day simple moving average of $75.47. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75. The firm has a market capitalization of $7.62 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 0.98 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. On average, sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 2.90%. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PB shares. UBS Group cut their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, December 26th. Bank of America raised Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research note on Tuesday, January 7th. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Stephens raised their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Raymond James lifted their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Prosperity Bancshares Company Profile

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.