First Trust Advisors LP Purchases 20,854 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

First Trust Advisors LP lifted its position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 9.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 247,103 shares of the bank's stock after buying an additional 20,854 shares during the period. First Trust Advisors LP owned approximately 0.26% of Prosperity Bancshares worth $18,619,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in shares of 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 acquiring an additional 312 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Prosperity Bancshares by 368.5% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock valued at $39,000 after purchasing an additional 409 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock valued at $45,000 after purchasing an additional 300 shares during the period. GAMMA Investing LLC increased its stake in Prosperity Bancshares by 20.4% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock worth $64,000 after purchasing an additional 143 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its holdings 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 buying an additional 713 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.

Insiders Place Their Bets

In related news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $80.01, for a total transaction of $40,005.00. Following the completion of the transaction, the director now owns 107,315 shares of the company's stock, valued at approximately $8,586,273.15. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 5,500 shares of company stock valued at $390,340 over the last 90 days. 4.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PB. Royal Bank of Canada cut their price target on shares of Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Bank of America raised shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research note on Tuesday, January 7th. Hovde Group decreased their target price on Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Morgan Stanley dropped their price target on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Stephens raised their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $83.23.

Prosperity Bancshares Stock Up 2.4 %

Shares of PB traded up $1.65 during mid-day trading on Friday, hitting $69.74. 74,287 shares of the company's stock were exchanged, compared to its average volume of 614,885. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.75. The firm has a fifty day moving average of $69.49 and a two-hundred day moving average of $75.19. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 0.94 and a beta of 0.82.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.02. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. The company had revenue of $306.68 million for the quarter, compared to analyst estimates of $307.17 million. During the same period last year, the company earned $1.18 earnings per share. The business's revenue was up 10.7% compared to the same quarter last year. On average, equities analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 yield of 3.33%. Prosperity Bancshares's dividend payout ratio (DPR) is currently 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.