Allspring Global Investments Holdings LLC Has $21.13 Million Stock Holdings in Prosperity Bancshares, Inc. (NYSE:PB)

Allspring Global Investments Holdings LLC boosted its position in Prosperity Bancshares, Inc. (NYSE:PB) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 282,920 shares of the bank’s stock after purchasing an additional 10,589 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Prosperity Bancshares were worth $21,128,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UMB Bank n.a. boosted its stake in shares of Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after acquiring an additional 300 shares during the period. First Horizon Advisors Inc. lifted its holdings in Prosperity Bancshares by 190.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock valued at $59,000 after purchasing an additional 534 shares during the last quarter. Blue Trust Inc. lifted its holdings in Prosperity Bancshares by 181.6% during the 3rd quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock valued at $62,000 after purchasing an additional 554 shares during the last quarter. GAMMA Investing LLC boosted its position in Prosperity Bancshares by 20.4% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after purchasing an additional 143 shares during the period. Finally, Sunbelt Securities Inc. increased its holdings in shares of Prosperity Bancshares by 31.0% in the third quarter. Sunbelt Securities Inc. now owns 981 shares of the bank’s stock valued at $71,000 after purchasing an additional 232 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Activity at Prosperity Bancshares

In other news, Chairman H E. Timanus, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $86.50, for a total value of $346,000.00. Following the sale, the chairman now directly owns 229,953 shares in the company, valued at approximately $19,890,934.50. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leah Henderson sold 1,100 shares of Prosperity Bancshares stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $83.24, for a total transaction of $91,564.00. Following the sale, the director now directly owns 7,525 shares in the company, valued at $626,381. This trade represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,600 shares of company stock valued at $1,273,279 over the last ninety days. 4.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PB shares. Raymond James raised their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Bank of America upgraded Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Tuesday, January 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 target price on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Stephens boosted their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, UBS Group decreased their price objective on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, December 26th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Prosperity Bancshares currently has an average rating of “Moderate Buy” and an average price target of $82.88.

Prosperity Bancshares Trading Down 0.3 %

Shares of NYSE:PB opened at $77.81 on Friday. The firm has a 50 day moving average of $77.79 and a 200-day moving average of $75.72. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75. The stock has a market capitalization of $7.41 billion, a PE ratio of 15.38, a PEG ratio of 0.98 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 EPS 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, research analysts predict that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 2.98%. Prosperity Bancshares’s dividend payout ratio is currently 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.