Kennedy Capital Management LLC Has $1.90 Million Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

Kennedy Capital Management LLC trimmed its position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 21.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,262 shares of the bank's stock after selling 6,750 shares during the period. Kennedy Capital Management LLC's holdings in Prosperity Bancshares were worth $1,903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PB. Smartleaf Asset Management LLC boosted its holdings in Prosperity Bancshares by 487.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock worth $28,000 after buying an additional 312 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock valued at $39,000 after acquiring an additional 409 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock worth $45,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Prosperity Bancshares by 20.4% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock worth $64,000 after acquiring an additional 143 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd raised its position in shares of Prosperity Bancshares by 349.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after purchasing an additional 713 shares during the period. 80.69% of the stock is owned by institutional investors.

Prosperity Bancshares Trading Up 0.2 %

PB stock traded up $0.10 during mid-day trading on Friday, hitting $65.74. The stock had a trading volume of 467,668 shares, compared to its average volume of 567,711. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76. The company has a fifty day moving average of $71.31 and a 200 day moving average of $75.49. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.94 and a beta of 0.82.

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, sell-side analysts expect that Prosperity Bancshares, Inc. will post 5.83 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, July 1st. Stockholders 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 3.53%. Prosperity Bancshares's dividend payout ratio is currently 45.85%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PB shares. StockNews.com upgraded Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, April 10th. Stephens lifted their target price 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 upped their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. UBS Group lowered their price objective 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. Finally, Morgan Stanley reduced their target price on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus 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 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 transaction, the director now directly owns 107,815 shares of the company's stock, valued at $8,616,574.80. This represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 5,500 shares of company stock valued at $402,415. Insiders own 4.20% of the company's stock.

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.