Prosperity Bancshares, Inc. (NYSE:PB) Shares Bought by Snyder Capital Management L P

Snyder Capital Management L P grew its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 7.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,220,977 shares of the bank's stock after purchasing an additional 83,488 shares during the period. Prosperity Bancshares makes up approximately 1.9% of Snyder Capital Management L P's holdings, making the stock its 19th largest position. Snyder Capital Management L P owned approximately 1.28% of Prosperity Bancshares worth $92,001,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PB. Smartleaf Asset Management LLC lifted its position in Prosperity Bancshares by 487.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock valued at $28,000 after acquiring an additional 312 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock valued at $39,000 after buying an additional 409 shares during the last quarter. UMB Bank n.a. raised its stake in Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock valued at $45,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of 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 increased its stake in shares of Prosperity Bancshares by 349.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after purchasing an additional 713 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Prosperity Bancshares Trading Down 1.8 %

PB traded down $1.22 during midday trading on Wednesday, hitting $67.29. 128,415 shares of the company traded hands, compared to its average volume of 613,407. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 0.94 and a beta of 0.82. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.75. The business has a 50 day simple moving average of $69.82 and a two-hundred day simple moving average of $75.27.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.02. The firm had revenue of $306.68 million for 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% on a year-over-year basis. During the same period last year, the firm posted $1.18 earnings per share. Equities research analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares's payout ratio is currently 44.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Hovde Group reduced their price objective on Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Stephens increased their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. 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 research report on Tuesday, January 7th. Raymond James upped their target price on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Morgan Stanley decreased their price target on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $83.23.

Insider Buying and Selling

In other news, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $78.30, for a total value of $39,150.00. Following the completion of the transaction, the director now owns 106,815 shares of the company's stock, valued at approximately $8,363,614.50. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 5,000 shares of company stock worth $356,740. Insiders own 4.20% of the company's stock.

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.