Vaughan Nelson Investment Management L.P. Purchases 101,230 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Vaughan Nelson Investment Management L.P. raised its position in Prosperity Bancshares, Inc. (NYSE:PB) by 14.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 784,910 shares of the bank’s stock after purchasing an additional 101,230 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.84% of Prosperity Bancshares worth $51,631,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Planned Solutions Inc. bought a new stake in Prosperity Bancshares during the 4th quarter valued at about $37,000. GAMMA Investing LLC bought a new stake in shares of Prosperity Bancshares during the fourth quarter valued at approximately $38,000. Parallel Advisors LLC boosted its holdings in shares of Prosperity Bancshares by 835.9% in the fourth quarter. Parallel Advisors LLC now owns 730 shares of the bank’s stock valued at $49,000 after purchasing an additional 652 shares during the period. Mather Group LLC. bought a new position in Prosperity Bancshares in the first quarter worth approximately $50,000. Finally, Signaturefd LLC increased its holdings in Prosperity Bancshares by 171.5% during the 4th quarter. Signaturefd LLC now owns 744 shares of the bank’s stock worth $50,000 after purchasing an additional 470 shares during the period. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Trading Up 0.7 %

Shares of PB stock traded up $0.41 during trading hours on Tuesday, reaching $60.99. 13,545 shares of the company’s stock were exchanged, compared to its average volume of 548,011. Prosperity Bancshares, Inc. has a fifty-two week low of $49.60 and a fifty-two week high of $68.88. The stock’s 50 day moving average is $61.51 and its 200-day moving average is $63.06. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 1.31 and a beta of 0.91.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, April 24th. The bank reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. Prosperity Bancshares had a return on equity of 6.33% and a net margin of 24.50%. The company had revenue of $420.78 million during the quarter, compared to analyst estimates of $274.88 million. During the same quarter last year, the business posted $1.37 EPS. Equities analysts anticipate that Prosperity Bancshares, Inc. will post 4.99 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a $0.56 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.24 dividend on an annualized basis and a yield of 3.67%. Prosperity Bancshares’s dividend payout ratio is currently 51.61%.

Analyst Ratings Changes

PB has been the topic of a number of recent research reports. Barclays assumed coverage on Prosperity Bancshares in a research report on Friday, March 8th. They set an “equal weight” rating and a $68.00 price target on the stock. Stephens upgraded shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of Prosperity Bancshares in a report on Tuesday, April 9th. Finally, Truist Financial reiterated a “buy” rating and set a $75.00 price objective on shares of Prosperity Bancshares in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.86.

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.