Barclays PLC Purchases 24,812 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Barclays PLC lifted its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 117,355 shares of the bank's stock after purchasing an additional 24,812 shares during the quarter. Barclays PLC owned 0.12% of Prosperity Bancshares worth $8,844,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PB. Vanguard Group Inc. raised its holdings in Prosperity Bancshares by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,780,006 shares of the bank's stock worth $736,923,000 after buying an additional 44,567 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Prosperity Bancshares by 1.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,342,047 shares of the bank's stock valued at $176,473,000 after buying an additional 32,917 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Prosperity Bancshares by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,188,208 shares of the bank's stock worth $89,531,000 after purchasing an additional 4,913 shares during the last quarter. Norges Bank bought a new stake in Prosperity Bancshares during the fourth quarter worth approximately $68,986,000. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Prosperity Bancshares by 6.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 889,219 shares of the bank's stock valued at $67,002,000 after purchasing an additional 53,654 shares during the last quarter. Institutional investors and hedge funds 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 stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $67.58, for a total transaction of $33,790.00. Following the completion of the transaction, the director now directly owns 103,415 shares in the company, valued at $6,988,785.70. This represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 5,500 shares of company stock worth $396,700. Corporate insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Barclays decreased their price target on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Stephens upped their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. StockNews.com downgraded Prosperity Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Royal Bank of Canada reduced their price objective on shares of Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $83.23.

Prosperity Bancshares Price Performance

PB traded up $0.23 during trading on Monday, reaching $67.37. The company had a trading volume of 123,140 shares, compared to its average volume of 571,387. The company has a market cap of $6.42 billion, a P/E ratio of 13.30, a PEG ratio of 0.94 and a beta of 0.82. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The business's fifty day moving average price is $70.21 and its 200 day moving average price is $75.35.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.35 by $0.02. The business had revenue of $306.68 million for the quarter, compared to analysts' expectations of $307.17 million. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The firm's revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 EPS. As a group, sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.44%. Prosperity Bancshares's payout ratio is presently 44.19%.

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.