Loomis Sayles & Co. L P Has $32.13 Million Stake in Prosperity Bancshares, Inc. (NYSE:PB)

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 the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 426,400 shares of the bank’s stock after purchasing an additional 5,226 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Prosperity Bancshares were worth $32,129,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its position in shares of Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after purchasing an additional 312 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Prosperity Bancshares by 368.5% in the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock worth $39,000 after buying an additional 409 shares in the last quarter. 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 valued at $45,000 after buying an additional 300 shares during the period. GAMMA Investing LLC boosted its stake in shares of Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after buying an additional 143 shares during the period. Finally, Sunbelt Securities Inc. grew its holdings in shares of Prosperity Bancshares by 31.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 981 shares of the bank’s stock valued at $71,000 after acquiring an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Price Performance

Prosperity Bancshares stock opened at $71.53 on Friday. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.76. The firm has a fifty day moving average price of $75.99 and a two-hundred day moving average price of $76.13. The firm has a market cap of $6.81 billion, a price-to-earnings 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, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. As a group, sell-side analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid 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 payout ratio is 45.85%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group reduced their price objective on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. Wolfe Research reiterated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Barclays increased their price objective on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Prosperity Bancshares presently has an average rating of “Hold” and a consensus price target of $83.50.

Insider Buying and Selling

In related news, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $70.63, for a total value of $35,315.00. Following the completion of the sale, the director now owns 104,815 shares in the company, valued at approximately $7,403,083.45. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 5,500 shares of company stock valued at $416,135. 4.28% of the stock is owned by company insiders.

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.