Prosperity Bancshares, Inc. (NYSE:PB) Shares Acquired by Boston Partners

Boston Partners boosted its position in Prosperity Bancshares, Inc. (NYSE:PB) by 32.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 255,380 shares of the bank’s stock after purchasing an additional 62,746 shares during the quarter. Boston Partners owned about 0.27% of Prosperity Bancshares worth $19,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prospector Partners LLC boosted its holdings in shares of Prosperity Bancshares by 24.6% during the third quarter. Prospector Partners LLC now owns 228,992 shares of the bank’s stock worth $16,503,000 after purchasing an additional 45,177 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Prosperity Bancshares in the 3rd quarter worth about $372,000. Jane Street Group LLC grew its holdings in Prosperity Bancshares by 418.0% in the 3rd quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock valued at $8,039,000 after buying an additional 90,015 shares during the period. Stifel Financial Corp increased its stake in shares of Prosperity Bancshares by 4.3% during the 3rd quarter. Stifel Financial Corp now owns 113,293 shares of the bank’s stock valued at $8,165,000 after acquiring an additional 4,677 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Prosperity Bancshares by 3.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 282,920 shares of the bank’s stock worth $21,128,000 after acquiring an additional 10,589 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $75.25, for a total value of $37,625.00. Following the completion of the sale, the director now directly owns 109,815 shares of the company’s stock, valued at $8,263,578.75. The trade was a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 5,500 shares of company stock worth $418,095 in the last ninety days. 4.28% of the stock is owned by insiders.

Prosperity Bancshares Price Performance

Shares of Prosperity Bancshares stock opened at $70.51 on Friday. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76. The business has a 50-day moving average of $76.49 and a 200-day moving average of $76.17. The company has a market capitalization of $6.72 billion, a PE ratio of 13.93, a P/E/G ratio of 0.94 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 earnings per share 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%. On average, equities analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on PB. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Tuesday, January 7th. Wolfe Research reiterated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. UBS Group lowered their price target on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. StockNews.com downgraded Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Barclays boosted their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $83.50.

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.