Brown Advisory Inc. Has $177.07 Million Position in Prosperity Bancshares, Inc. (NYSE:PB)

Brown Advisory Inc. decreased its position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,349,982 shares of the bank's stock after selling 83,209 shares during the period. Brown Advisory Inc. owned 2.47% of Prosperity Bancshares worth $177,071,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Prosperity Bancshares by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 9,780,006 shares of the bank's stock worth $736,923,000 after buying an additional 44,567 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Prosperity Bancshares by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,586,260 shares of the bank's stock worth $345,575,000 after acquiring an additional 48,304 shares during the period. Massachusetts Financial Services Co. MA raised its position in Prosperity Bancshares by 1.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,342,047 shares of the bank's stock worth $176,473,000 after acquiring an additional 32,917 shares in the last quarter. Snyder Capital Management L P lifted its holdings in Prosperity Bancshares by 7.3% in the 4th quarter. Snyder Capital Management L P now owns 1,220,977 shares of the bank's stock valued at $92,001,000 after acquiring an additional 83,488 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position 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 valued at $89,531,000 after purchasing an additional 4,913 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $73.62, for a total value of $36,810.00. Following the completion of the sale, the director now owns 105,315 shares of the company's stock, valued at approximately $7,753,290.30. The trade was a 0.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 5,500 shares of company stock worth $385,225 in the last three months. 4.20% of the stock is owned by insiders.

Prosperity Bancshares Price Performance

PB traded up $0.29 on Friday, reaching $71.41. 289,530 shares of the company traded hands, compared to its average volume of 577,988. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.76. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 0.94 and a beta of 0.70. The stock's 50 day moving average price is $68.84 and its 200-day moving average price is $75.08.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.02. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The business had revenue of $306.68 million for the quarter, compared to the consensus estimate of $307.17 million. During the same period in the prior year, the business posted $1.18 earnings per share. Prosperity Bancshares's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities research analysts forecast 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. Stockholders 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 3.25%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares's dividend payout ratio (DPR) is presently 44.19%.

Wall Street Analyst Weigh In

PB has been the topic of a number of research reports. Stephens boosted their target price on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods dropped their price target on Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Monday. Hovde Group cut their price objective on Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Morgan Stanley decreased 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. Finally, Royal Bank of Canada reduced their target price on Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.71.

About Prosperity Bancshares

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.