AQR Capital Management LLC Grows Position in Prosperity Bancshares, Inc. (NYSE:PB)

AQR Capital Management LLC grew its position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 554,525 shares of the bank's stock after purchasing an additional 18,338 shares during the period. AQR Capital Management LLC owned about 0.58% of Prosperity Bancshares worth $41,783,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in shares of Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock valued at $28,000 after acquiring an additional 312 shares in the last quarter. 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 valued at $39,000 after buying an additional 409 shares during the period. UMB Bank n.a. increased its stake in Prosperity Bancshares by 102.7% in the 4th 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 increased its stake in Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock valued at $64,000 after acquiring an additional 143 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its holdings in shares of Prosperity Bancshares by 349.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after purchasing an additional 713 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Activity at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $73.62, for a total transaction of $36,810.00. Following the sale, the director now owns 105,315 shares of the company's stock, valued at $7,753,290.30. This trade represents a 0.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 5,500 shares of company stock valued at $385,225. 4.20% of the stock is owned by insiders.

Prosperity Bancshares Stock Up 2.1 %

Shares of NYSE:PB traded up $1.45 during trading on Thursday, hitting $70.76. The stock had a trading volume of 80,980 shares, compared to its average volume of 576,366. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The company has a market capitalization of $6.74 billion, a PE ratio of 13.99, a PEG ratio of 0.94 and a beta of 0.70. The firm's fifty day moving average is $68.94 and its 200 day moving average is $75.08.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.02. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The company had revenue of $306.68 million during the quarter, compared to analyst estimates of $307.17 million. During the same period last year, the business earned $1.18 EPS. Prosperity Bancshares's quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares's dividend payout ratio is presently 44.19%.

Analyst Upgrades and Downgrades

Several research firms have commented on PB. Raymond James lifted their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Barclays lowered their price target on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. StockNews.com downgraded Prosperity Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their target price on Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Monday. Finally, Morgan Stanley reduced their price target on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Prosperity Bancshares currently has an average rating of "Moderate Buy" and an average price target of $83.71.

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.