MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 17.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,872 shares of the bank's stock after acquiring an additional 3,746 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Prosperity Bancshares were worth $1,874,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. HB Wealth Management LLC purchased a new stake in shares of Prosperity Bancshares in the fourth quarter valued at $216,000. Ameritas Advisory Services LLC acquired a new stake in Prosperity Bancshares in the 4th quarter worth approximately $206,000. UMB Bank n.a. lifted its stake in Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock valued at $45,000 after acquiring an additional 300 shares during the period. Dakota Wealth Management acquired a new position in shares of Prosperity Bancshares in the 4th quarter valued at $237,000. Finally, Olistico Wealth LLC lifted its stake in shares of Prosperity Bancshares by 93.5% in the 4th quarter. Olistico Wealth LLC now owns 2,872 shares of the bank's stock valued at $216,000 after purchasing an additional 1,388 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PB shares. Morgan Stanley lowered their price target on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Wall Street Zen upgraded shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Raymond James lifted their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lowered their price target on Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Finally, Jefferies Financial Group initiated coverage on Prosperity Bancshares in a report on Wednesday. They issued a "buy" rating and a $85.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $83.80.

Insider Activity at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $73.62, for a total transaction of $36,810.00. Following the completion of the transaction, the director now owns 105,315 shares in the company, valued at approximately $7,753,290.30. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 6,600 shares of company stock valued at $460,409. 4.20% of the stock is owned by corporate insiders.

Prosperity Bancshares Stock Down 0.2%

PB traded down $0.12 during mid-day trading on Friday, reaching $69.80. 551,425 shares of the company traded hands, compared to its average volume of 590,358. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.76. The company's fifty day moving average price is $68.89 and its 200-day moving average price is $74.90. The stock has a market capitalization of $6.65 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.94 and a beta of 0.70.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.02. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. The company had revenue of $306.68 million for the quarter, compared to analyst estimates of $307.17 million. During the same period in the prior year, the company posted $1.18 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently announced 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 3.32%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares's dividend payout ratio (DPR) is presently 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.