Boston Partners Purchases 62,746 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Boston Partners grew its position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 32.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 255,380 shares of the bank's stock after acquiring an additional 62,746 shares during the quarter. Boston Partners owned about 0.27% of Prosperity Bancshares worth $19,249,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in Prosperity Bancshares in the third quarter worth about $16,478,000. Raymond James Financial Inc. bought a new stake in shares of Prosperity Bancshares during the 4th quarter worth about $8,643,000. Jane Street Group LLC boosted its holdings in shares of Prosperity Bancshares by 418.0% in the third quarter. Jane Street Group LLC now owns 111,548 shares of the bank's stock valued at $8,039,000 after acquiring an additional 90,015 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Prosperity Bancshares in the fourth quarter valued at approximately $5,463,000. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of 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 acquiring an additional 53,654 shares during the period. Institutional investors 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 that occurred on Thursday, January 2nd. The stock was sold at an average price of $75.25, for a total value of $37,625.00. Following the completion of the sale, the director now directly owns 109,815 shares of the company's stock, valued at approximately $8,263,578.75. This represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 5,500 shares of company stock worth $418,095 over the last ninety days. Company insiders own 4.28% of the company's stock.

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Prosperity Bancshares Trading Down 0.1 %

NYSE:PB traded down $0.10 during trading hours on Tuesday, hitting $72.06. 750,153 shares of the stock traded hands, compared to its average volume of 523,149. The firm has a 50 day moving average price of $76.37 and a 200 day moving average price of $76.19. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.76.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. Research analysts predict that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares's dividend payout ratio is 45.85%.

Analyst Ratings Changes

A number of brokerages have issued reports on PB. Bank of America raised Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research note on Tuesday, January 7th. Wolfe Research reaffirmed a "peer perform" rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. 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 report on Thursday, January 30th. Barclays lifted their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Friday, December 20th. Finally, Morgan Stanley cut their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $83.50.

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.