Vaughan Nelson Investment Management L.P. Purchases 223,355 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Vaughan Nelson Investment Management L.P. increased its position in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 25.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,112,574 shares of the bank's stock after purchasing an additional 223,355 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 1.17% of Prosperity Bancshares worth $79,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Prosperity Bancshares by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,780,006 shares of the bank's stock worth $736,923,000 after acquiring an additional 44,567 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Prosperity Bancshares by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,586,260 shares of the bank's stock worth $345,575,000 after acquiring an additional 48,304 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Prosperity Bancshares by 1.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,342,047 shares of the bank's stock worth $176,473,000 after acquiring an additional 32,917 shares in the last quarter. Snyder Capital Management L P raised its stake in Prosperity Bancshares by 7.3% during the fourth quarter. Snyder Capital Management L P now owns 1,220,977 shares of the bank's stock worth $92,001,000 after acquiring an additional 83,488 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Prosperity Bancshares by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,188,208 shares of the bank's stock worth $89,531,000 after acquiring an additional 4,913 shares in 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 the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $70.31, for a total transaction of $35,155.00. Following the transaction, the director now directly owns 99,915 shares in the company, valued at approximately $7,025,023.65. This represents a 0.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 7,800 shares of company stock worth $542,975. Corporate insiders own 4.20% of the company's stock.

Prosperity Bancshares Trading Down 3.0%

NYSE:PB traded down $2.11 on Friday, reaching $67.57. 621,459 shares of the stock traded hands, compared to its average volume of 593,116. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 0.94 and a beta of 0.68. The company's 50 day moving average is $68.94 and its 200-day moving average is $73.58. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released 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 business had revenue of $306.68 million during 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%. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS. On average, equities research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares's payout ratio is 44.19%.

Analyst Ratings Changes

PB has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered their price objective on Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Royal Bank of Canada lowered their price objective 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. Jefferies Financial Group initiated coverage on Prosperity Bancshares in a research note on Wednesday, May 21st. They issued a "buy" rating and a $85.00 price objective for the company. Wall Street Zen raised Prosperity Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Barclays lowered their price objective on Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.