Allspring Global Investments Holdings LLC Has $21.13 Million Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Allspring Global Investments Holdings LLC grew its position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 282,920 shares of the bank's stock after acquiring an additional 10,589 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.30% of Prosperity Bancshares worth $21,128,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of PB. UMB Bank n.a. lifted its holdings in Prosperity Bancshares by 102.7% in the fourth 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 period. First Horizon Advisors Inc. raised its position 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 acquiring an additional 534 shares in the last quarter. Blue Trust Inc. raised its position in Prosperity Bancshares by 181.6% in the third quarter. Blue Trust Inc. now owns 859 shares of the bank's stock worth $62,000 after acquiring an additional 554 shares in the last quarter. GAMMA Investing LLC raised its position in Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock worth $64,000 after acquiring an additional 143 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in Prosperity Bancshares by 31.0% in 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. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PB shares. UBS Group dropped their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, December 26th. Raymond James boosted their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Wolfe Research reiterated a "peer perform" rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Bank of America upgraded Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a report on Tuesday, January 7th. Finally, Stephens boosted 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. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Prosperity Bancshares has an average rating of "Moderate Buy" and a consensus price target of $82.88.

Prosperity Bancshares Stock Down 0.7 %

Shares of PB traded down $0.54 during trading hours on Wednesday, reaching $78.09. The company's stock had a trading volume of 377,157 shares, compared to its average volume of 509,694. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 0.94 and a beta of 0.94. The company has a 50 day moving average of $77.73 and a two-hundred day moving average of $75.80. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.75.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 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%. As a group, analysts forecast that Prosperity Bancshares, Inc. will post 5.82 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

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 paid a $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 2.97%. Prosperity Bancshares's payout ratio is 45.85%.

Insider Activity at Prosperity Bancshares

In other Prosperity Bancshares news, Director Leah Henderson sold 1,100 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $83.24, for a total transaction of $91,564.00. Following the completion of the sale, the director now owns 7,525 shares of the company's stock, valued at $626,381. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $86.50, for a total value of $346,000.00. Following the sale, the chairman now directly owns 229,953 shares of the company's stock, valued at $19,890,934.50. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,100 shares of company stock valued at $1,232,559. 4.28% of the stock is owned by corporate insiders.

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.