Alliancebernstein L.P. Acquires 39,100 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Alliancebernstein L.P. raised its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 31.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,706 shares of the bank's stock after purchasing an additional 39,100 shares during the period. Alliancebernstein L.P. owned 0.17% of Prosperity Bancshares worth $12,260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PB. FMR LLC lifted its holdings in shares of Prosperity Bancshares by 69.9% in the third quarter. FMR LLC now owns 7,736 shares of the bank's stock worth $558,000 after buying an additional 3,182 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Prosperity Bancshares by 6.2% in the third quarter. Captrust Financial Advisors now owns 5,848 shares of the bank's stock worth $421,000 after purchasing an additional 341 shares during the period. HighTower Advisors LLC raised its position in shares of Prosperity Bancshares by 5.0% in the third quarter. HighTower Advisors LLC now owns 21,660 shares of the bank's stock worth $1,562,000 after buying an additional 1,039 shares in the last quarter. Janus Henderson Group PLC grew its position in Prosperity Bancshares by 14.5% during the third quarter. Janus Henderson Group PLC now owns 45,383 shares of the bank's stock worth $3,271,000 after buying an additional 5,750 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Prosperity Bancshares by 68.5% in the 3rd quarter. Quantinno Capital Management LP now owns 10,959 shares of the bank's stock valued at $790,000 after acquiring an additional 4,457 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $80.01, for a total value of $40,005.00. Following the transaction, the director now directly owns 107,315 shares in the company, valued at $8,586,273.15. This trade represents a 0.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 5,500 shares of company stock worth $408,695. Company insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PB. StockNews.com upgraded shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, April 10th. Stephens upped their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Bank of America raised Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a research note on Tuesday, January 7th. UBS Group lowered 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. Finally, Morgan Stanley decreased their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.35.

Prosperity Bancshares Stock Up 1.6 %

Prosperity Bancshares stock traded up $1.03 during trading hours on Tuesday, hitting $66.66. The stock had a trading volume of 74,602 shares, compared to its average volume of 562,911. The stock's 50-day moving average price is $72.43 and its 200-day moving average price is $75.62. Prosperity Bancshares, Inc. has a 12-month low of $57.16 and a 12-month high of $86.76. The stock has a market capitalization of $6.35 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Friday, March 14th. Prosperity Bancshares's dividend payout ratio is currently 45.85%.

Prosperity Bancshares 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.