Rhumbline Advisers Has $21.75 Million Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Rhumbline Advisers decreased its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 288,600 shares of the bank's stock after selling 3,429 shares during the period. Rhumbline Advisers owned approximately 0.30% of Prosperity Bancshares worth $21,746,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Prosperity Bancshares by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank's stock valued at $123,162,000 after purchasing an additional 15,309 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Prosperity Bancshares by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,183,295 shares of the bank's stock worth $85,280,000 after buying an additional 6,518 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Prosperity Bancshares by 6.4% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 889,219 shares of the bank's stock worth $67,002,000 after buying an additional 53,654 shares during the last quarter. Verition Fund Management LLC increased its stake in shares of Prosperity Bancshares by 0.5% in the third quarter. Verition Fund Management LLC now owns 834,701 shares of the bank's stock worth $60,157,000 after buying an additional 3,978 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Prosperity Bancshares by 0.9% in the third quarter. Thrivent Financial for Lutherans now owns 818,744 shares of the bank's stock worth $59,007,000 after buying an additional 6,972 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

PB has been the subject of a number of research analyst reports. UBS Group dropped their price target 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. 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 report on Friday, December 20th. Wolfe Research reaffirmed a "peer perform" rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Bank of America raised shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a report on Tuesday, January 7th. Finally, StockNews.com raised shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Prosperity Bancshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.88.

Prosperity Bancshares Stock Down 0.3 %

NYSE:PB traded down $0.26 during trading hours on Monday, reaching $76.24. The company had a trading volume of 494,246 shares, compared to its average volume of 503,590. The stock has a 50-day moving average of $77.38 and a two-hundred day moving average of $76.06. The firm has a market capitalization of $7.26 billion, a PE ratio of 15.07, a PEG ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.75.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released 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 return on equity of 6.64% and a net margin of 26.79%. As a group, sell-side analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share 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 paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares's payout ratio is 45.85%.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $78.30, for a total value of $39,150.00. Following the transaction, the director now directly owns 106,815 shares of the company's stock, valued at $8,363,614.50. This represents a 0.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Harrison Stafford II sold 4,000 shares of the company's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $80.07, for a total value of $320,280.00. Following the sale, the director now owns 107,137 shares of the company's stock, valued at approximately $8,578,459.59. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,000 shares of company stock valued at $794,995 in the last 90 days. 4.28% of the stock is currently owned by 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.