Prosperity Bancshares, Inc. (NYSE:PB) Stock Holdings Lifted by Boston Partners

Boston Partners lifted its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 32.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 255,380 shares of the bank’s stock after purchasing an additional 62,746 shares during the quarter. Boston Partners’ holdings in Prosperity Bancshares were worth $19,249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PB. Smartleaf Asset Management LLC lifted its stake in Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock valued at $28,000 after buying an additional 312 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Prosperity Bancshares by 368.5% in the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock valued at $39,000 after purchasing an additional 409 shares during the last quarter. UMB Bank n.a. grew its position in 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 during the last quarter. First Horizon Advisors Inc. grew its position in Prosperity Bancshares by 190.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after purchasing an additional 534 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake 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 purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Stock Down 1.1 %

Shares of NYSE PB opened at $70.51 on Friday. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.76. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.94 and a beta of 0.94. The stock’s fifty day simple moving average is $76.49 and its 200 day simple moving average is $76.17.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is 45.85%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PB shares. Raymond James increased their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. UBS Group reduced their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, December 26th. Stephens increased their target price on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Barclays boosted their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $83.50.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $75.25, for a total transaction of $37,625.00. Following the completion of the sale, the director now directly owns 109,815 shares in the company, valued at approximately $8,263,578.75. This trade represents a 0.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 5,500 shares of company stock worth $418,095. Corporate insiders own 4.28% of the company’s stock.

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.