Barrow Hanley Mewhinney & Strauss LLC Has $8.19 Million Position in Prosperity Bancshares, Inc. (NYSE:PB)

Barrow Hanley Mewhinney & Strauss LLC reduced its position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 4.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 108,737 shares of the bank's stock after selling 4,633 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 0.11% of Prosperity Bancshares worth $8,193,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its position in Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock worth $28,000 after purchasing an additional 312 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Prosperity Bancshares by 368.5% in the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after buying an additional 409 shares during the period. UMB Bank n.a. grew its stake in shares of Prosperity Bancshares by 102.7% in the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank's stock valued at $45,000 after buying an additional 300 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in Prosperity Bancshares by 349.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after acquiring an additional 713 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Prosperity Bancshares by 14.9% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank's stock worth $71,000 after buying an additional 128 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

Insider Transactions at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.63, for a total value of $35,315.00. Following the completion of the transaction, the director now owns 104,815 shares in the company, valued at approximately $7,403,083.45. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 6,600 shares of company stock valued at $460,409. Company insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Raymond James raised their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Barclays cut their target price on shares of 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. Royal Bank of Canada decreased their price target on Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Stephens upped their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Finally, Jefferies Financial Group initiated coverage on Prosperity Bancshares in a research report on Wednesday, May 21st. They issued a "buy" rating and a $85.00 target price for the company. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $83.80.

Prosperity Bancshares Trading Up 0.3%

Prosperity Bancshares stock traded up $0.22 during trading hours on Thursday, reaching $69.48. 84,639 shares of the company were exchanged, compared to its average volume of 590,694. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The stock has a 50-day moving average of $68.84 and a 200 day moving average of $74.76. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 0.94 and a beta of 0.70.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 earnings per share (EPS) 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 the consensus estimate of $307.17 million. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. Prosperity Bancshares's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $1.18 earnings per share. As a group, research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares's dividend payout ratio is 44.19%.

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.