Dean Investment Associates LLC Buys 9,573 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Dean Investment Associates LLC raised its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 16.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,518 shares of the bank’s stock after buying an additional 9,573 shares during the quarter. Dean Investment Associates LLC owned 0.07% of Prosperity Bancshares worth $5,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Prosperity Bancshares by 69.9% in the third quarter. FMR LLC now owns 7,736 shares of the bank’s stock worth $558,000 after purchasing an additional 3,182 shares in the last quarter. XTX Topco Ltd acquired a new stake in Prosperity Bancshares during the 3rd quarter worth approximately $211,000. Geode Capital Management LLC boosted its stake in Prosperity Bancshares by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank’s stock valued at $123,162,000 after purchasing an additional 15,309 shares during the period. Sanctuary Advisors LLC acquired a new position in Prosperity Bancshares in the 3rd quarter valued at $372,000. Finally, Tidal Investments LLC increased its position in Prosperity Bancshares by 5.7% during the 3rd quarter. Tidal Investments LLC now owns 3,875 shares of the bank’s stock worth $279,000 after buying an additional 209 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stephens upped their price target 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. Raymond James increased their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Morgan Stanley lowered their target price 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. StockNews.com upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, April 10th. Finally, UBS Group lowered their price objective on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Prosperity Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $83.35.

Insider Activity

In other news, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $79.92, for a total value of $39,960.00. Following the completion of the sale, the director now directly owns 107,815 shares in the company, valued at $8,616,574.80. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 5,000 shares of company stock valued at $369,480 in the last ninety days. 4.20% of the stock is owned by company insiders.

Prosperity Bancshares Price Performance

Shares of Prosperity Bancshares stock opened at $65.58 on Thursday. The company’s 50 day moving average price is $71.85 and its two-hundred day moving average price is $75.49. The firm has a market capitalization of $6.25 billion, a P/E ratio of 12.96, a P/E/G ratio of 0.94 and a beta of 0.82. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.76.

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

Prosperity Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.54%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

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.