Marshall Wace LLP Has $1.12 Million Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Marshall Wace LLP increased its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 201.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,900 shares of the bank's stock after buying an additional 9,955 shares during the quarter. Marshall Wace LLP's holdings in Prosperity Bancshares were worth $1,123,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PB. Smartleaf Asset Management LLC boosted its stake in Prosperity Bancshares by 487.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock valued at $28,000 after buying an additional 312 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings 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 valued at $39,000 after purchasing an additional 409 shares in the last quarter. UMB Bank n.a. lifted its stake in Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock worth $45,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Prosperity Bancshares by 20.4% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock worth $64,000 after purchasing an additional 143 shares during the period. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of Prosperity Bancshares by 349.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock valued at $69,000 after acquiring an additional 713 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on PB. Hovde Group dropped their target price on Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Stephens raised their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods decreased their target price on shares of Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Monday. Morgan Stanley cut their price target on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Barclays decreased their price objective on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Prosperity Bancshares presently has a consensus rating of "Moderate Buy" and an average price target of $83.71.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $67.20, for a total value of $33,600.00. Following the sale, the director now owns 102,915 shares of the company's stock, valued at $6,915,888. The trade was a 0.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 5,500 shares of company stock valued at $390,340 over the last three months. 4.20% of the stock is owned by corporate insiders.

Prosperity Bancshares Stock Up 0.4 %

NYSE PB traded up $0.29 during trading on Monday, hitting $70.18. The company's stock had a trading volume of 106,112 shares, compared to its average volume of 573,612. Prosperity Bancshares, Inc. has a 52 week low of $57.16 and a 52 week high of $86.76. The firm has a market cap of $6.69 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 0.94 and a beta of 0.70. The firm has a 50 day moving average price of $69.36 and a 200 day moving average price of $75.18.

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

Prosperity Bancshares Announces Dividend

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 paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares's payout ratio 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.