Hodges Capital Management Inc. Has $11.09 Million Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Hodges Capital Management Inc. lifted its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,231 shares of the bank's stock after purchasing an additional 6,902 shares during the period. Hodges Capital Management Inc. owned about 0.15% of Prosperity Bancshares worth $11,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Blue Trust Inc. lifted its stake in Prosperity Bancshares by 14.9% in the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank's stock worth $71,000 after acquiring an additional 128 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock valued at $64,000 after buying an additional 143 shares during the period. M&T Bank Corp grew its holdings in shares of Prosperity Bancshares by 0.3% during the 3rd quarter. M&T Bank Corp now owns 45,392 shares of the bank's stock valued at $3,272,000 after acquiring an additional 149 shares in the last quarter. US Bancorp DE increased its stake in shares of Prosperity Bancshares by 3.4% in the third quarter. US Bancorp DE now owns 4,720 shares of the bank's stock worth $340,000 after acquiring an additional 153 shares during the last quarter. Finally, Tectonic Advisors LLC raised its holdings in shares of Prosperity Bancshares by 3.0% during the third quarter. Tectonic Advisors LLC now owns 7,058 shares of the bank's stock worth $509,000 after acquiring an additional 206 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Transactions at Prosperity Bancshares

In related news, Director Harrison Stafford II sold 4,000 shares of Prosperity Bancshares stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $80.07, for a total value of $320,280.00. Following the sale, the director now owns 107,137 shares of the company's stock, valued at approximately $8,578,459.59. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $81.44, for a total transaction of $40,720.00. Following the completion of the transaction, the director now directly owns 113,815 shares of the company's stock, valued at approximately $9,269,093.60. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,600 shares of company stock valued at $1,276,109 over the last 90 days. 4.28% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PB has been the topic of several research reports. StockNews.com raised Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. DA Davidson lowered shares of Prosperity Bancshares from a "buy" rating to a "neutral" rating and cut their price objective for the company from $80.00 to $78.00 in a research report on Tuesday, October 15th. Stephens increased their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $77.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Finally, Barclays increased their target price on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Friday, December 20th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Prosperity Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $82.88.

Prosperity Bancshares Stock Down 0.1 %

PB stock traded down $0.09 during midday trading on Thursday, reaching $80.61. The stock had a trading volume of 474,385 shares, compared to its average volume of 534,616. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 0.97 and a beta of 0.94. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.75. The business has a fifty day simple moving average of $78.31 and a two-hundred day simple moving average of $75.39.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share (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 analysts predict that Prosperity Bancshares, Inc. will post 5.8 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued 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 2.88%. Prosperity Bancshares's dividend payout ratio (DPR) is currently 45.85%.

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.