Dimensional Fund Advisors LP Has $317.42 Million Stock Holdings in Prosperity Bancshares, Inc. $PB

Dimensional Fund Advisors LP boosted its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,784,022 shares of the bank’s stock after buying an additional 28,994 shares during the period. Dimensional Fund Advisors LP owned approximately 5.04% of Prosperity Bancshares worth $317,416,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Clearstead Advisors LLC increased its position in shares of Prosperity Bancshares by 10.9% during the third quarter. Clearstead Advisors LLC now owns 1,614 shares of the bank’s stock worth $107,000 after acquiring an additional 159 shares in the last quarter. Bfsg LLC boosted its stake in Prosperity Bancshares by 5.1% in the 3rd quarter. Bfsg LLC now owns 3,363 shares of the bank’s stock worth $223,000 after purchasing an additional 164 shares during the period. AE Wealth Management LLC increased its holdings in Prosperity Bancshares by 3.8% during the 2nd quarter. AE Wealth Management LLC now owns 4,640 shares of the bank’s stock worth $326,000 after purchasing an additional 172 shares in the last quarter. Belpointe Asset Management LLC raised its stake in shares of Prosperity Bancshares by 5.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 3,621 shares of the bank’s stock valued at $240,000 after purchasing an additional 176 shares during the period. Finally, Osaic Holdings Inc. raised its stake in shares of Prosperity Bancshares by 34.9% in the 2nd quarter. Osaic Holdings Inc. now owns 719 shares of the bank’s stock valued at $51,000 after purchasing an additional 186 shares during the period. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Stock Down 0.4%

NYSE:PB opened at $69.49 on Friday. Prosperity Bancshares, Inc. has a twelve month low of $61.06 and a twelve month high of $77.20. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.66. The stock’s 50 day moving average price is $71.71 and its two-hundred day moving average price is $68.91.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, January 28th. The bank reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.01. The business had revenue of $317.73 million during the quarter, compared to analysts’ expectations of $319.30 million. Prosperity Bancshares had a net margin of 31.22% and a return on equity of 7.11%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the business earned $1.37 earnings per share. As a group, analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, March 13th. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. Prosperity Bancshares’s payout ratio is currently 41.88%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Cantor Fitzgerald upped their price objective on Prosperity Bancshares from $81.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday. Hovde Group upped their price target on Prosperity Bancshares from $75.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Janney Montgomery Scott cut shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 3rd. Barclays downgraded shares of Prosperity Bancshares from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $75.00 to $68.00 in a report on Monday, February 2nd. Finally, Raymond James Financial cut shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 7th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Prosperity Bancshares currently has an average rating of “Hold” and a consensus target price of $78.92.

Insider Activity

In related news, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $70.04, for a total value of $35,020.00. Following the completion of the sale, the director directly owned 80,915 shares in the company, valued at approximately $5,667,286.60. This trade represents a 0.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 14,250 shares of company stock valued at $1,018,824. 4.20% of the stock is currently owned by corporate insiders.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.