Loomis Sayles & Co. L P Has $32.13 Million Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Loomis Sayles & Co. L P grew its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 426,400 shares of the bank's stock after purchasing an additional 5,226 shares during the period. Loomis Sayles & Co. L P owned approximately 0.45% of Prosperity Bancshares worth $32,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased 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 purchasing an additional 128 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock worth $64,000 after buying an additional 143 shares during the period. M&T Bank Corp increased its position in shares of Prosperity Bancshares by 0.3% in the third quarter. M&T Bank Corp now owns 45,392 shares of the bank's stock worth $3,272,000 after acquiring an additional 149 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Prosperity Bancshares by 3.8% during the fourth quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank's stock valued at $430,000 after acquiring an additional 194 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in shares of Prosperity Bancshares by 23.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank's stock valued at $76,000 after acquiring an additional 195 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

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Prosperity Bancshares Trading Down 0.4 %

Prosperity Bancshares stock traded down $0.26 during mid-day trading on Tuesday, hitting $71.11. 97,167 shares of the company's stock were exchanged, compared to its average volume of 546,922. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76. The stock has a 50 day moving average of $75.68 and a two-hundred day moving average of $76.17. The stock has a market cap of $6.77 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.94 and a beta of 0.94.

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

Prosperity Bancshares Dividend Announcement

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 given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares's dividend payout ratio is currently 45.85%.

Insider Transactions at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 109,815 shares of the company's stock, valued at $8,263,578.75. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 5,500 shares of company stock worth $416,135 over the last three months. 4.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on PB shares. Wolfe Research reissued a "peer perform" rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Barclays upped their price target on Prosperity Bancshares from $84.00 to $88.00 and gave the company an "equal weight" rating in a research report on Friday, December 20th. StockNews.com lowered Prosperity Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, March 19th. Raymond James upped 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, Bank of America upgraded shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Prosperity Bancshares has a consensus rating of "Hold" and a consensus 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.