Invesco Ltd. Purchases 37,285 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Invesco Ltd. grew its holdings in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 226,430 shares of the bank's stock after acquiring an additional 37,285 shares during the quarter. Invesco Ltd. owned 0.24% of Prosperity Bancshares worth $17,062,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PB. Blue Trust Inc. grew its holdings in shares of Prosperity Bancshares by 14.9% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank's stock worth $71,000 after purchasing an additional 128 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Prosperity Bancshares by 4.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,069 shares of the bank's stock worth $229,000 after purchasing an additional 128 shares during the period. GAMMA Investing LLC grew its stake in 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 buying an additional 143 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Prosperity Bancshares by 3.8% in the 4th quarter. Sanctuary Advisors LLC now owns 5,359 shares of the bank's stock valued at $430,000 after buying an additional 194 shares during the period. Finally, First Horizon Advisors Inc. raised its position in shares of Prosperity Bancshares by 23.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,010 shares of the bank's stock valued at $76,000 after buying an additional 195 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PB has been the topic of several analyst reports. Morgan Stanley reduced 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. Bank of America raised Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a report on Tuesday, January 7th. Royal Bank of Canada decreased their price target on Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a research note on Thursday. StockNews.com downgraded Prosperity Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Raymond James raised their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $83.23.

Prosperity Bancshares Stock Down 0.7 %

Prosperity Bancshares stock traded down $0.47 during trading hours on Friday, hitting $67.19. The stock had a trading volume of 99,326 shares, compared to its average volume of 572,006. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 0.94 and a beta of 0.82. The business's 50 day simple moving average is $70.43 and its 200-day simple moving average is $75.31. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.76.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 earnings per share (EPS) for the quarter, beating 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 business had revenue of $306.68 million during the quarter, compared to analyst estimates of $307.17 million. Research analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.58 per share. The ex-dividend date is Friday, June 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.45%. Prosperity Bancshares's dividend payout ratio (DPR) is presently 44.19%.

Insider Buying and Selling

In other news, Director Ned S. Holmes sold 500 shares of the firm'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 directly owns 107,315 shares in the company, valued at $8,586,273.15. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 5,500 shares of company stock valued at $396,700 over the last 90 days. 4.20% of the stock is owned by insiders.

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.