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

Vaughan Nelson Investment Management L.P. boosted its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 6.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 889,219 shares of the bank's stock after purchasing an additional 53,654 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.93% of Prosperity Bancshares worth $67,002,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. UMB Bank n.a. grew its position in Prosperity Bancshares by 102.7% during the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank's stock valued at $45,000 after buying an additional 300 shares during the period. GAMMA Investing LLC raised its holdings in Prosperity Bancshares by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the bank's stock worth $51,000 after purchasing an additional 227 shares during the period. First Horizon Advisors Inc. boosted its position in Prosperity Bancshares by 190.0% during the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank's stock worth $59,000 after purchasing an additional 534 shares in the last quarter. Blue Trust Inc. grew its holdings in Prosperity Bancshares by 181.6% in the third quarter. Blue Trust Inc. now owns 859 shares of the bank's stock valued at $62,000 after purchasing an additional 554 shares during the period. Finally, Sunbelt Securities Inc. increased its position in shares of 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 buying an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Stock Performance

Shares of NYSE PB traded down $1.53 during trading on Wednesday, hitting $78.02. 317,382 shares of the company were exchanged, compared to its average volume of 520,035. Prosperity Bancshares, Inc. has a 12-month low of $57.16 and a 12-month high of $86.75. The company has a fifty day moving average price of $77.96 and a 200-day moving average price of $75.65. The firm has a market capitalization of $7.43 billion, a PE ratio of 15.42, a P/E/G ratio of 0.98 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its earnings results 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 net margin of 26.79% and a return on equity of 6.64%. Research analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm 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 dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 2.97%. Prosperity Bancshares's dividend payout ratio (DPR) is 45.85%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PB. Stephens lifted their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Wolfe Research reissued a "peer perform" rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. StockNews.com raised shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Raymond James boosted their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, UBS Group decreased their target price on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, December 26th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $82.88.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Leah Henderson sold 1,100 shares of Prosperity Bancshares stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $83.24, for a total value of $91,564.00. Following the completion of the transaction, the director now directly owns 7,525 shares of the company's stock, valued at $626,381. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $78.30, for a total transaction of $39,150.00. Following the sale, the director now owns 106,815 shares in the company, valued at $8,363,614.50. This trade represents a 0.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,600 shares of company stock valued at $1,273,279 over the last quarter. 4.28% of the stock is 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.