Brevan Howard Capital Management LP Makes New $672,000 Investment in Prosperity Bancshares, Inc. (NYSE:PB)

Brevan Howard Capital Management LP purchased a new stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,924 shares of the bank's stock, valued at approximately $672,000.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in 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 last quarter. Dimensional Fund Advisors LP grew its position in Prosperity Bancshares by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,586,260 shares of the bank's stock worth $345,575,000 after purchasing an additional 48,304 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in 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 worth $176,473,000 after purchasing an additional 32,917 shares during the last quarter. Snyder Capital Management L P grew its position in Prosperity Bancshares by 7.3% during the 4th quarter. Snyder Capital Management L P now owns 1,220,977 shares of the bank's stock worth $92,001,000 after purchasing an additional 83,488 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in 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 purchasing an additional 4,913 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PB. Hovde Group dropped their price objective on shares of Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. StockNews.com downgraded shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price objective on shares of Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Morgan Stanley dropped their price objective on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Barclays decreased their target price 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.71.

Insiders Place Their Bets

In related news, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $73.62, for a total value of $36,810.00. Following the completion of the transaction, the director now owns 105,315 shares of the company's stock, valued at approximately $7,753,290.30. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 5,500 shares of company stock worth $385,225 over the last quarter. 4.20% of the stock is owned by corporate insiders.

Prosperity Bancshares Price Performance

PB stock traded down $0.25 during trading on Tuesday, reaching $73.50. 570,516 shares of the stock traded hands, compared to its average volume of 626,025. The business's 50 day moving average price is $68.78 and its 200-day moving average price is $75.10. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.75. The firm has a market capitalization of $7.00 billion, a PE ratio of 14.53, a P/E/G ratio of 0.94 and a beta of 0.70.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.02. The company had revenue of $306.68 million for the quarter, compared to analysts' expectations of $307.17 million. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 earnings per share. On average, equities research analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares's dividend payout ratio is presently 44.19%.

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.