Prosperity Bancshares, Inc. (NYSE:PB) Shares Acquired by Dean Capital Management

Dean Capital Management raised its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 21.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,081 shares of the bank's stock after buying an additional 5,178 shares during the period. Prosperity Bancshares comprises about 0.9% of Dean Capital Management's holdings, making the stock its 26th largest position. Dean Capital Management's holdings in Prosperity Bancshares were worth $2,191,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Cetera Investment Advisers lifted its holdings in Prosperity Bancshares by 5.9% during the fourth quarter. Cetera Investment Advisers now owns 7,675 shares of the bank's stock valued at $578,000 after purchasing an additional 427 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Prosperity Bancshares during the fourth quarter valued at about $672,000. Bank of America Corp DE increased its stake in shares of Prosperity Bancshares by 4.3% in the fourth quarter. Bank of America Corp DE now owns 259,125 shares of the bank's stock worth $19,525,000 after buying an additional 10,622 shares during the period. Ameriprise Financial Inc. increased its holdings in Prosperity Bancshares by 7.3% during the 4th quarter. Ameriprise Financial Inc. now owns 319,320 shares of the bank's stock valued at $24,065,000 after purchasing an additional 21,857 shares during the period. Finally, Algert Global LLC lifted its position in shares of Prosperity Bancshares by 39.1% in the 4th quarter. Algert Global LLC now owns 30,959 shares of the bank's stock worth $2,333,000 after purchasing an additional 8,704 shares during the period. Institutional investors own 80.69% of the company's stock.

Insider Buying and Selling

In other news, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $78.30, for a total transaction of $39,150.00. Following the completion of the sale, the director now owns 106,815 shares in the company, valued at approximately $8,363,614.50. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 5,500 shares of company stock worth $385,225 over the last 90 days. 4.20% of the stock is owned by insiders.

Prosperity Bancshares Stock Up 3.9%

Shares of NYSE PB traded up $2.81 during midday trading on Monday, reaching $74.09. 272,217 shares of the stock were exchanged, compared to its average volume of 578,302. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.94 and a beta of 0.70. The firm has a 50-day simple moving average of $68.79 and a two-hundred day simple moving average of $75.09. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.76.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.02. The business 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 business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 EPS. 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 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 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, June 13th. Prosperity Bancshares's dividend payout ratio is currently 44.19%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley dropped 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. 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 research report on Tuesday, April 8th. Stephens upped 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. Raymond James lifted their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Hovde Group cut their target price on shares of Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.