Prosperity Bancshares, Inc. (NYSE:PB) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,342,047 shares of the bank's stock after buying an additional 32,917 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.46% of Prosperity Bancshares worth $176,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock valued at $28,000 after purchasing an additional 312 shares during the period. Jones Financial Companies Lllp raised its holdings in Prosperity Bancshares by 368.5% in the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock valued at $39,000 after buying an additional 409 shares during the period. UMB Bank n.a. lifted its position in Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank's stock valued at $45,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC boosted its stake in Prosperity Bancshares by 20.4% during 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. Finally, Sunbelt Securities Inc. raised its stake in shares of Prosperity Bancshares by 31.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 981 shares of the bank's stock valued at $71,000 after acquiring an additional 232 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PB shares. Morgan Stanley cut their price objective on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. UBS Group cut their price target on shares of 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 price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Raymond James upped their target price 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. Finally, StockNews.com lowered shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $83.50.

Prosperity Bancshares Stock Up 0.4 %

Shares of Prosperity Bancshares stock traded up $0.25 on Tuesday, hitting $64.24. The company's stock had a trading volume of 242,506 shares, compared to its average volume of 570,521. The company has a market capitalization of $6.12 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.75. The firm has a fifty day moving average price of $74.49 and a 200-day moving average price of $75.97.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) 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%. As a group, analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.61%. The ex-dividend date was Friday, March 14th. Prosperity Bancshares's payout ratio is 45.85%.

Insider Transactions at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $70.87, for a total transaction of $35,435.00. Following the completion of the sale, the director now directly owns 103,315 shares in the company, valued at $7,321,934.05. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 5,500 shares of company stock valued at $413,945 over the last three months. 4.20% of the stock is currently owned by insiders.

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.