Prosperity Bancshares, Inc. (NYSE:PB) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,780,006 shares of the bank's stock after buying an additional 44,567 shares during the period. Vanguard Group Inc. owned approximately 10.27% of Prosperity Bancshares worth $736,923,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PB. Smartleaf Asset Management LLC increased its stake in Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock worth $28,000 after buying an additional 312 shares during the period. Jones Financial Companies Lllp increased its position in shares of Prosperity Bancshares by 368.5% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after acquiring an additional 409 shares during the last quarter. UMB Bank n.a. increased its position in shares of Prosperity Bancshares by 102.7% during the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank's stock worth $45,000 after acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 acquiring an additional 143 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Prosperity Bancshares by 31.0% in the third quarter. Sunbelt Securities Inc. now owns 981 shares of the bank's stock valued at $71,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

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Insider Activity at Prosperity Bancshares

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

Wall Street Analyst Weigh In

PB has been the topic of a number of recent analyst reports. Bank of America raised Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research report on Tuesday, January 7th. StockNews.com cut shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, March 19th. Stephens raised their price objective 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. Raymond James upped their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $83.50.

Prosperity Bancshares Trading Down 2.6 %

PB traded down $1.74 during trading on Friday, reaching $64.38. 1,016,899 shares of the company were exchanged, compared to its average volume of 553,040. The stock has a market cap of $6.13 billion, a P/E ratio of 12.72, a PEG 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 $86.76. The firm has a 50 day moving average of $74.82 and a 200 day moving average of $76.00.

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, topping 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, analysts forecast that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Friday, March 14th. Prosperity Bancshares's dividend payout ratio (DPR) is 45.85%.

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.