Dimensional Fund Advisors LP Grows Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

Dimensional Fund Advisors LP lifted its stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,586,260 shares of the bank's stock after purchasing an additional 48,304 shares during the quarter. Dimensional Fund Advisors LP owned 4.81% of Prosperity Bancshares worth $345,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. First Trust Advisors LP increased its holdings in shares of Prosperity Bancshares by 9.2% in the 4th quarter. First Trust Advisors LP now owns 247,103 shares of the bank's stock worth $18,619,000 after purchasing an additional 20,854 shares in the last quarter. Forum Financial Management LP purchased a new stake in shares of Prosperity Bancshares during the fourth quarter valued at $242,000. Dean Investment Associates LLC increased its holdings in Prosperity Bancshares by 16.2% in the 4th quarter. Dean Investment Associates LLC now owns 68,518 shares of the bank's stock worth $5,163,000 after buying an additional 9,573 shares in the last quarter. Marshall Wace LLP raised its position in Prosperity Bancshares by 201.3% in the 4th quarter. Marshall Wace LLP now owns 14,900 shares of the bank's stock worth $1,123,000 after buying an additional 9,955 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Prosperity Bancshares by 15.5% during the 4th quarter. NewEdge Advisors LLC now owns 5,333 shares of the bank's stock valued at $402,000 after acquiring an additional 715 shares during the period. Institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Trading Down 0.9 %

PB traded down $0.60 on Friday, hitting $67.06. 656,434 shares of the company's stock traded hands, compared to its average volume of 573,208. The company's 50 day simple moving average is $70.21 and its 200-day simple moving average is $75.29. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 0.94 and a beta of 0.82.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its earnings results on Wednesday, April 23rd. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.35 by $0.02. The firm had revenue of $306.68 million for the quarter, compared to the consensus estimate of $307.17 million. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. As a group, equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

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 is Friday, June 13th. This represents a $2.32 annualized dividend and a dividend yield of 3.46%. Prosperity Bancshares's dividend payout ratio (DPR) is 44.19%.

Insider Buying and Selling

In related news, Director Ned S. Holmes sold 500 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $67.58, for a total transaction of $33,790.00. Following the sale, the director now owns 103,415 shares of the company's stock, valued at $6,988,785.70. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 5,500 shares of company stock worth $396,700. Corporate insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Hovde Group decreased their price objective on shares of Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating for the company in a report on Friday. Bank of America upgraded shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a research note on Tuesday, January 7th. Raymond James lifted their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. StockNews.com downgraded Prosperity Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, Royal Bank of Canada cut their target price on shares of Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $83.23.

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.