Prosperity Bancshares, Inc. (NYSE:PB) Shares Purchased by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. raised its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 835,565 shares of the bank's stock after acquiring an additional 36,480 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.88% of Prosperity Bancshares worth $60,219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in Prosperity Bancshares by 3.4% during the third quarter. US Bancorp DE now owns 4,720 shares of the bank's stock worth $340,000 after buying an additional 153 shares in the last quarter. GAMMA Investing LLC increased its position in Prosperity Bancshares by 59.6% during the second quarter. GAMMA Investing LLC now owns 474 shares of the bank's stock worth $29,000 after purchasing an additional 177 shares during the last quarter. Tectonic Advisors LLC increased its position in Prosperity Bancshares by 3.0% during the third quarter. Tectonic Advisors LLC now owns 7,058 shares of the bank's stock worth $509,000 after purchasing an additional 206 shares during the last quarter. GHP Investment Advisors Inc. increased its position in Prosperity Bancshares by 1.3% during the third quarter. GHP Investment Advisors Inc. now owns 17,967 shares of the bank's stock worth $1,295,000 after purchasing an additional 228 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in Prosperity Bancshares by 6.1% during the second quarter. Inspire Investing LLC now owns 5,739 shares of the bank's stock worth $351,000 after buying an additional 328 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.96, for a total value of $41,980.00. Following the sale, the director now directly owns 114,315 shares in the company, valued at $9,597,887.40. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.28% of the company's stock.

Prosperity Bancshares Trading Up 0.5 %

Shares of Prosperity Bancshares stock traded up $0.41 during trading on Friday, reaching $82.50. The company's stock had a trading volume of 578,423 shares, compared to its average volume of 660,582. The company has a 50-day moving average price of $73.79 and a two-hundred day moving average price of $68.36. The firm has a market cap of $7.86 billion, a PE ratio of 17.52, a P/E/G ratio of 1.23 and a beta of 0.89. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $85.13.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The company had revenue of $459.00 million for the quarter, compared to analysts' expectations of $299.83 million. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. During the same period in the previous year, the company posted $1.20 EPS. On average, analysts predict that Prosperity Bancshares, Inc. will post 5.05 earnings per share for the current fiscal year.

Prosperity Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.58 dividend. This is a boost from Prosperity Bancshares's previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 2.81%. The ex-dividend date is Friday, December 13th. Prosperity Bancshares's payout ratio is currently 47.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Hovde Group raised their price objective on shares of Prosperity Bancshares from $80.50 to $82.50 and gave the company an "outperform" rating in a research note on Monday, August 26th. Truist Financial downgraded shares of Prosperity Bancshares from a "buy" rating to a "hold" rating and decreased their price target for the stock from $81.00 to $79.00 in a research note on Friday, September 20th. Compass Point lifted their price target on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Barclays lifted their price target on shares of Prosperity Bancshares from $75.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 24th. Finally, DA Davidson downgraded shares of Prosperity Bancshares from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $80.00 to $78.00 in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Prosperity Bancshares currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.96.

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.