Dean Capital Management Purchases 5,178 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Dean Capital Management boosted its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 21.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,081 shares of the bank's stock after buying an additional 5,178 shares during the quarter. Prosperity Bancshares makes up approximately 0.9% of Dean Capital Management's investment portfolio, 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.

Several other hedge funds have also added to or reduced their stakes in PB. Smartleaf Asset Management LLC lifted its stake 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 worth $28,000 after acquiring an additional 312 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Prosperity Bancshares by 368.5% in the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after purchasing an additional 409 shares during the period. UMB Bank n.a. boosted its stake in shares of Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock valued at $45,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Prosperity Bancshares by 20.4% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock valued at $64,000 after purchasing an additional 143 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd increased its position in shares of Prosperity Bancshares by 349.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after buying an additional 713 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on PB shares. StockNews.com cut shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th. Barclays cut 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. Royal Bank of Canada lowered 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. Stephens increased their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, Morgan Stanley reduced their price objective on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.71.

Prosperity Bancshares Trading Up 0.2 %

Shares of PB traded up $0.15 on Friday, reaching $71.27. The company's stock had a trading volume of 544,724 shares, compared to its average volume of 579,595. The stock has a market capitalization of $6.79 billion, a PE ratio of 14.09, a PEG ratio of 0.94 and a beta of 0.70. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.76. The firm has a fifty day moving average of $68.79 and a 200-day moving average of $75.07.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.02. The company had revenue of $306.68 million for the quarter, compared to analyst estimates 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 earned $1.18 earnings per share. As a group, equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.32 annualized dividend and a dividend yield of 3.26%. Prosperity Bancshares's dividend payout ratio is currently 44.19%.

Insider Activity at Prosperity Bancshares

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $69.78, for a total value of $34,890.00. Following the completion of the transaction, the director now owns 102,415 shares in the company, valued at $7,146,518.70. This represents a 0.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 5,500 shares of company stock valued at $385,225 over the last ninety days. Corporate insiders own 4.20% of the company's stock.

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.