Dimensional Fund Advisors LP Acquires 48,304 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Dimensional Fund Advisors LP boosted its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,586,260 shares of the bank's stock after buying an additional 48,304 shares during the period. Dimensional Fund Advisors LP owned approximately 4.81% of Prosperity Bancshares worth $345,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of PB. First Trust Advisors LP increased its stake in Prosperity Bancshares by 9.2% during the fourth quarter. First Trust Advisors LP now owns 247,103 shares of the bank's stock worth $18,619,000 after acquiring an additional 20,854 shares during the last quarter. Forum Financial Management LP acquired a new stake in shares of Prosperity Bancshares during the fourth quarter worth $242,000. Dean Investment Associates LLC grew its position in Prosperity Bancshares by 16.2% during the fourth quarter. Dean Investment Associates LLC now owns 68,518 shares of the bank's stock valued at $5,163,000 after acquiring an additional 9,573 shares during the period. Marshall Wace LLP lifted its holdings in shares of Prosperity Bancshares by 201.3% during the 4th quarter. Marshall Wace LLP now owns 14,900 shares of the bank's stock valued at $1,123,000 after acquiring an additional 9,955 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Prosperity Bancshares by 15.5% in the fourth quarter. NewEdge Advisors LLC now owns 5,333 shares of the bank's stock valued at $402,000 after purchasing an additional 715 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Stock Up 0.2 %

Shares of PB stock traded up $0.13 during mid-day trading on Wednesday, reaching $67.29. 1,463,981 shares of the stock traded hands, compared to its average volume of 574,455. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The stock's fifty day simple moving average is $70.64 and its two-hundred day simple moving average is $75.33. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.02. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The firm had revenue of $306.68 million for the quarter, compared to analyst estimates of $307.17 million. On average, equities research analysts anticipate 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 paid a $0.58 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.32 annualized dividend and a yield of 3.45%. Prosperity Bancshares's payout ratio is 45.85%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PB shares. Barclays cut their target price on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. UBS Group dropped their price objective on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, December 26th. Stephens raised their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Bank of America upgraded shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a research report on Tuesday, January 7th. Finally, 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 note on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Prosperity Bancshares currently has an average rating of "Moderate Buy" and an average price target of $83.35.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $63.62, for a total value of $31,810.00. Following the completion of the sale, the director now directly owns 102,815 shares of the company's stock, valued at $6,541,090.30. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 5,000 shares of company stock worth $362,910 over the last quarter. 4.20% of the stock is currently owned by company insiders.

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.