Prosperity Bancshares, Inc. (NYSE:PB) Shares Acquired by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P raised its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 426,400 shares of the bank’s stock after buying an additional 5,226 shares during the quarter. Loomis Sayles & Co. L P owned about 0.45% of Prosperity Bancshares worth $32,129,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PB. Point72 Asset Management L.P. bought a new position in shares of Prosperity Bancshares in the 3rd quarter worth about $16,478,000. Raymond James Financial Inc. acquired a new position in Prosperity Bancshares in the fourth quarter valued at approximately $8,643,000. Jane Street Group LLC boosted its stake in Prosperity Bancshares by 418.0% in the third quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock valued at $8,039,000 after acquiring an additional 90,015 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Prosperity Bancshares during the fourth quarter valued at approximately $5,463,000. Finally, Boston Partners raised its position in shares of Prosperity Bancshares by 32.6% during the 4th quarter. Boston Partners now owns 255,380 shares of the bank’s stock worth $19,249,000 after purchasing an additional 62,746 shares during the period. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Stock Down 0.2 %

Shares of PB stock opened at $71.53 on Friday. The stock has a 50-day simple moving average of $75.99 and a 200 day simple moving average of $76.13. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.76. The stock has a market capitalization of $6.81 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. On average, sell-side analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 3.24%. Prosperity Bancshares’s dividend payout ratio is currently 45.85%.

Wall Street Analysts Forecast Growth

PB has been the subject of a number of analyst reports. Barclays boosted their price objective on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. UBS Group dropped their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, December 26th. Stephens boosted their target price on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Tuesday, January 7th. Finally, StockNews.com downgraded Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th. One equities 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 company. Based on data from MarketBeat, Prosperity Bancshares has an average rating of “Hold” and an average price target of $83.50.

Insider Activity

In other news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $74.12, for a total transaction of $37,060.00. Following the sale, the director now directly owns 109,315 shares of the company’s stock, valued at $8,102,427.80. The trade was a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 5,500 shares of company stock worth $416,135. Insiders own 4.28% of the company’s stock.

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.