Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group reduced its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 24.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 381,986 shares of the bank's stock after selling 126,978 shares during the period. Schroder Investment Management Group owned approximately 0.40% of Prosperity Bancshares worth $28,702,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of 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 increased its stake 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. raised its position in 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 buying an additional 300 shares during the last quarter. GAMMA Investing LLC lifted its stake 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. Finally, Sunbelt Securities Inc. lifted 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 worth $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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Analysts Set New Price Targets

Several research firms recently issued reports on PB. Stephens increased their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. UBS Group cut their target price on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, December 26th. 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 report on Tuesday, January 7th. Barclays upped their price objective on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Friday, December 20th. 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Prosperity Bancshares has an average rating of "Hold" and an average target price of $83.50.

Prosperity Bancshares Stock Performance

NYSE:PB traded down $1.74 during mid-day trading on Friday, hitting $64.38. 1,016,899 shares of the company's stock traded hands, compared to its average volume of 553,040. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.76. The company has a market cap of $6.13 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The firm's 50 day simple moving average is $74.82 and its 200 day simple moving average is $76.00.

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 (EPS) for the quarter, topping 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%. On average, research analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.58 dividend. 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 currently 45.85%.

Insider Activity

In other news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $78.43, for a total value of $39,215.00. Following the completion of the transaction, the director now owns 108,815 shares of the company's stock, valued at $8,534,360.45. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 5,500 shares of company stock worth $413,945 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

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.