Brown Advisory Inc. Lowers Position in Prosperity Bancshares, Inc. (NYSE:PB)

Brown Advisory Inc. lessened its position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,243,241 shares of the bank's stock after selling 106,741 shares during the period. Brown Advisory Inc. owned approximately 2.35% of Prosperity Bancshares worth $160,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PB. CIBC Private Wealth Group LLC lifted its stake in Prosperity Bancshares by 4.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,069 shares of the bank's stock valued at $229,000 after purchasing an additional 128 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Prosperity Bancshares by 4.9% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 3,326 shares of the bank's stock valued at $237,000 after purchasing an additional 156 shares during the last quarter. American Century Companies Inc. lifted its stake in Prosperity Bancshares by 0.8% in the 4th quarter. American Century Companies Inc. now owns 31,013 shares of the bank's stock valued at $2,337,000 after purchasing an additional 255 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Prosperity Bancshares by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 11,157 shares of the bank's stock valued at $796,000 after purchasing an additional 295 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Prosperity Bancshares by 487.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock valued at $28,000 after purchasing an additional 312 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $72.97, for a total transaction of $36,485.00. Following the completion of the transaction, the director directly owned 98,415 shares of the company's stock, valued at $7,181,342.55. The trade was a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 9,100 shares of company stock valued at $634,975 in the last quarter. Insiders own 4.20% of the company's stock.

Prosperity Bancshares Price Performance

PB stock traded down $0.36 during trading on Wednesday, hitting $73.92. 67,969 shares of the stock traded hands, compared to its average volume of 639,882. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.92 and a beta of 0.68. Prosperity Bancshares, Inc. has a 1 year low of $60.33 and a 1 year high of $86.75. The firm's 50 day moving average is $70.38 and its two-hundred day moving average is $72.39.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 earnings per share (EPS) for the quarter, beating 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 6.81% and a net margin of 27.69%. The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 EPS. As a group, analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Friday, June 13th. Prosperity Bancshares's dividend payout ratio (DPR) is presently 44.19%.

Analyst Ratings Changes

Several research firms have recently issued reports on PB. Royal Bank Of Canada dropped their price target on shares of 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. Wall Street Zen raised shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods dropped their price target on shares of Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Hovde Group dropped their price target on shares of Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Jefferies Financial Group began coverage on shares of Prosperity Bancshares in a research note on Wednesday, May 21st. They set a "buy" rating and a $85.00 price target for the company. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $83.80.

Prosperity Bancshares Company 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.