Barrow Hanley Mewhinney & Strauss LLC Decreases Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Barrow Hanley Mewhinney & Strauss LLC lessened its stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,737 shares of the bank's stock after selling 4,633 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 0.11% of Prosperity Bancshares worth $8,193,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PB. Blue Trust Inc. increased its holdings in Prosperity Bancshares by 14.9% in the fourth quarter. Blue Trust Inc. now owns 987 shares of the bank's stock valued at $71,000 after buying an additional 128 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 period. M&T Bank Corp increased its stake in Prosperity Bancshares by 0.3% in the 3rd quarter. M&T Bank Corp now owns 45,392 shares of the bank's stock valued at $3,272,000 after purchasing an additional 149 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in Prosperity Bancshares by 3.8% during the fourth quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank's stock worth $430,000 after purchasing an additional 194 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Prosperity Bancshares by 23.9% during the fourth quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank's stock worth $76,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Transactions at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $78.43, for a total transaction of $39,215.00. Following the completion of the sale, the director now owns 108,815 shares in the company, valued at approximately $8,534,360.45. The trade was a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 5,500 shares of company stock worth $413,945 in the last ninety days. Insiders own 4.20% of the company's stock.

Prosperity Bancshares Stock Performance

Prosperity Bancshares stock traded down $1.74 during trading on Friday, hitting $64.38. The company's stock had a trading volume of 1,016,899 shares, compared to its average volume of 553,040. The stock's fifty day moving average is $74.82 and its 200 day moving average is $76.00. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 0.94 and a beta of 0.82.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping 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%. On average, research analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.58 per share. The ex-dividend date was Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 3.60%. Prosperity Bancshares's dividend payout ratio is presently 45.85%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PB. Raymond James raised their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Morgan Stanley dropped their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Barclays upped their price target on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Friday, December 20th. UBS Group dropped their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, December 26th. Finally, Stephens upped their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $83.50.

Prosperity Bancshares 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.