Brown Advisory Inc. Decreases Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

Brown Advisory Inc. decreased its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,349,982 shares of the bank's stock after selling 83,209 shares during the quarter. Brown Advisory Inc. owned about 2.47% of Prosperity Bancshares worth $177,071,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of PB. Vanguard Group Inc. increased its stake in Prosperity Bancshares by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 9,780,006 shares of the bank's stock valued at $736,923,000 after purchasing an additional 44,567 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Prosperity Bancshares by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,586,260 shares of the bank's stock valued at $345,575,000 after buying an additional 48,304 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake 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 buying an additional 32,917 shares during the period. Snyder Capital Management L P boosted its holdings in Prosperity Bancshares by 7.3% in the fourth quarter. Snyder Capital Management L P now owns 1,220,977 shares of the bank's stock worth $92,001,000 after acquiring an additional 83,488 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Prosperity Bancshares by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,188,208 shares of the bank's stock valued at $89,531,000 after acquiring an additional 4,913 shares during the period. Institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Stock Down 1.1 %

Shares of PB stock traded down $0.79 on Tuesday, reaching $69.23. The company's stock had a trading volume of 399,188 shares, compared to its average volume of 575,955. The company has a market capitalization of $6.60 billion, a P/E ratio of 13.68, a PEG ratio of 0.94 and a beta of 0.70. Prosperity Bancshares, Inc. has a 12-month low of $57.16 and a 12-month high of $86.76. The stock's 50 day simple moving average is $69.09 and its 200-day simple moving average is $75.12.

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, beating analysts' consensus estimates of $1.35 by $0.02. The firm had revenue of $306.68 million during the quarter, compared to the consensus estimate of $307.17 million. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. The company's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $1.18 EPS. Research analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares's dividend payout ratio (DPR) is currently 44.19%.

Insider Transactions at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $78.30, for a total transaction of $39,150.00. Following the transaction, the director now directly owns 106,815 shares of the company's stock, valued at approximately $8,363,614.50. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 5,500 shares of company stock valued at $390,340. Insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PB shares. Royal Bank of Canada reduced their price objective on shares of Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. Morgan Stanley decreased their price objective on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Stephens raised their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. StockNews.com downgraded Prosperity Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. Finally, Barclays dropped their price objective on Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Prosperity Bancshares currently has an average rating of "Moderate Buy" and an average price target of $83.71.

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.