Prosperity Bancshares, Inc. (NYSE:PB) Shares Purchased by Invesco Ltd.

Invesco Ltd. raised its position in Prosperity Bancshares, Inc. (NYSE:PB) by 19.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 226,430 shares of the bank’s stock after buying an additional 37,285 shares during the quarter. Invesco Ltd. owned about 0.24% of Prosperity Bancshares worth $17,062,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of PB. Vanguard Group Inc. grew its stake in shares of Prosperity Bancshares by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,780,006 shares of the bank’s stock worth $736,923,000 after purchasing an additional 44,567 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Prosperity Bancshares by 1.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,342,047 shares of the bank’s stock valued at $176,473,000 after acquiring an additional 32,917 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Prosperity Bancshares by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,188,208 shares of the bank’s stock worth $89,531,000 after acquiring an additional 4,913 shares in the last quarter. Norges Bank acquired a new stake in shares of Prosperity Bancshares in the 4th quarter worth approximately $68,986,000. Finally, Vaughan Nelson Investment Management L.P. increased its stake in Prosperity Bancshares by 6.4% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 889,219 shares of the bank’s stock valued at $67,002,000 after purchasing an additional 53,654 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Prosperity Bancshares Price Performance

Shares of PB stock opened at $65.74 on Monday. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76. The firm’s 50-day simple moving average is $71.31 and its 200-day simple moving average is $75.49. The firm has a market cap of $6.26 billion, a P/E ratio of 12.99, a PEG ratio of 0.94 and a beta of 0.82.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, beating 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%. Analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

Insider Transactions at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $79.92, for a total transaction of $39,960.00. Following the transaction, the director now owns 107,815 shares in the company, valued at approximately $8,616,574.80. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 5,500 shares of company stock worth $402,415 in the last three months. 4.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on PB. Morgan Stanley lowered their target price on Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Stephens upped their price target on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. 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 research note on Tuesday, January 7th. StockNews.com upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, April 10th. Finally, Barclays lowered their target price on Prosperity Bancshares from $88.00 to $86.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Prosperity Bancshares has a consensus rating of “Moderate Buy” and an average target price of $83.35.

Prosperity Bancshares 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.