Dean Investment Associates LLC Boosts Position in Prosperity Bancshares, Inc. (NYSE:PB)

Dean Investment Associates LLC grew its position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 16.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,518 shares of the bank's stock after buying an additional 9,573 shares during the quarter. Dean Investment Associates LLC owned 0.07% of Prosperity Bancshares worth $5,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in shares of Prosperity Bancshares in the third quarter worth $372,000. Allspring Global Investments Holdings LLC grew its stake in Prosperity Bancshares by 3.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 282,920 shares of the bank's stock worth $21,128,000 after purchasing an additional 10,589 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Prosperity Bancshares by 45.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 7,281 shares of the bank's stock worth $549,000 after purchasing an additional 2,263 shares during the period. Hodges Capital Management Inc. raised its position in Prosperity Bancshares by 4.9% in the 4th quarter. Hodges Capital Management Inc. now owns 147,231 shares of the bank's stock valued at $11,094,000 after purchasing an additional 6,902 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Prosperity Bancshares by 40.6% in the 3rd quarter. Franklin Resources Inc. now owns 34,411 shares of the bank's stock valued at $2,509,000 after buying an additional 9,935 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PB. StockNews.com upgraded shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a research note on Thursday, April 10th. UBS Group reduced their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, December 26th. Stephens lifted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Raymond James increased their target price on Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Morgan Stanley lowered their price objective on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.35.

Insider Activity at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $79.92, for a total transaction of $39,960.00. Following the sale, the director now directly owns 107,815 shares in the company, valued at approximately $8,616,574.80. The trade was a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 5,500 shares of company stock worth $402,415 over the last 90 days. Company insiders own 4.20% of the company's stock.

Prosperity Bancshares Trading Up 2.3 %

Shares of PB traded up $1.50 during mid-day trading on Tuesday, hitting $67.03. 315,455 shares of the company's stock were exchanged, compared to its average volume of 567,223. The firm has a market capitalization of $6.39 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.94 and a beta of 0.82. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.76. The business's 50 day moving average is $71.06 and its two-hundred day moving average is $75.45.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 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%. On average, equities research analysts forecast 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, July 1st. Investors of record on Friday, June 13th will be given a $0.58 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.32 dividend on an annualized basis and a yield of 3.46%. Prosperity Bancshares's payout ratio is currently 45.85%.

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.