Vaughan Nelson Investment Management L.P. Takes $46.31 Million Position in Prosperity Bancshares, Inc. (NYSE:PB)

Vaughan Nelson Investment Management L.P. bought a new position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 683,680 shares of the bank's stock, valued at approximately $46,306,000. Vaughan Nelson Investment Management L.P. owned approximately 0.73% of Prosperity Bancshares at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PB. Advisor Group Holdings Inc. lifted its position in Prosperity Bancshares by 3.1% in the first quarter. Advisor Group Holdings Inc. now owns 5,935 shares of the bank's stock valued at $411,000 after purchasing an additional 181 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Prosperity Bancshares by 12.1% during the first quarter. HighTower Advisors LLC now owns 19,485 shares of the bank's stock valued at $1,353,000 after acquiring an additional 2,102 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of Prosperity Bancshares during the first quarter valued at approximately $274,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Prosperity Bancshares by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,779 shares of the bank's stock valued at $2,344,000 after acquiring an additional 3,222 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Prosperity Bancshares by 3.1% during the first quarter. BlackRock Inc. now owns 8,212,796 shares of the bank's stock valued at $569,805,000 after acquiring an additional 244,440 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Trading Up 1.0 %

PB traded up $0.60 on Friday, hitting $63.39. 369,581 shares of the company's stock traded hands, compared to its average volume of 477,698. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 1.25 and a beta of 0.93. The company's 50 day simple moving average is $63.07 and its 200-day simple moving average is $60.91. Prosperity Bancshares, Inc. has a one year low of $49.60 and a one year high of $68.88.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings results on Wednesday, January 24th. The bank reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The business had revenue of $413.00 million during the quarter, compared to analysts' expectations of $279.34 million. Prosperity Bancshares had a return on equity of 6.62% and a net margin of 26.24%. During the same quarter last year, the business posted $1.51 EPS. As a group, equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.04 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Thursday, March 14th. Prosperity Bancshares's dividend payout ratio (DPR) is 49.45%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PB shares. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 price target on shares of Prosperity Bancshares in a research note on Thursday, January 25th. UBS Group upped their price target on Prosperity Bancshares from $65.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, December 13th. Barclays assumed coverage on Prosperity Bancshares in a research note on Friday, March 8th. They issued an "equal weight" rating and a $68.00 price target on the stock. Morgan Stanley raised Prosperity Bancshares from an "underweight" rating to an "equal weight" rating and set a $69.00 target price on the stock in a research note on Wednesday, February 7th. Finally, Truist Financial reissued a "buy" rating and issued a $75.00 target price on shares of Prosperity Bancshares in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.79.

About Prosperity Bancshares

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.