Victory Capital Management Holds 6.5% Stake in Prosperity Bancshares

TL;DR

**Victory Capital Management now owns 6.5% of Prosperity Bancshares, a significant institutional holding.**

AI Summary

Victory Capital Management Inc. has updated its ownership stake in Prosperity Bancshares Inc. as of December 31, 2023. The investment firm now beneficially owns 5,928,697 shares of Common Stock, representing 6.5% of the company's outstanding shares. This is an amendment to a previous filing, indicating a change in their holdings. This matters to investors because Victory Capital Management is a significant institutional holder, and changes in their position can signal their confidence (or lack thereof) in Prosperity Bancshares' future performance.

Why It Matters

This filing shows a major institutional investor's current stake, which can influence market perception and potentially impact stock price due to the large volume of shares involved.

Risk Assessment

Risk Level: low — This filing is a routine update of an institutional ownership stake and does not inherently present a high risk.

Analyst Insight

Investors should note that a major institutional investor, Victory Capital Management Inc., holds a substantial 6.5% stake in Prosperity Bancshares Inc. While this filing is a routine update, it confirms continued institutional interest. Smart investors might monitor future 13F filings to see if this position is increased or decreased, as significant changes could signal a shift in institutional confidence.

Key Numbers

• 5,928,697 — Shares Beneficially Owned (Total shares of Prosperity Bancshares Inc. common stock held by Victory Capital Management Inc.)
• 6.5% — Percentage of Class (The percentage of Prosperity Bancshares Inc. common stock that Victory Capital Management Inc. beneficially owns.)
• 5,829,361 — Sole Voting Power (The number of shares over which Victory Capital Management Inc. has sole voting authority.)

Key Players & Entities

• Victory Capital Management Inc. (company) — the reporting person and institutional investor
• Prosperity Bancshares Inc. (company) — the subject company whose shares are being reported
• 5,928,697 (dollar_amount) — number of shares beneficially owned by Victory Capital Management Inc.
• 6.5% (dollar_amount) — percentage of Prosperity Bancshares Inc. common stock owned by Victory Capital Management Inc.
• December 31, 2023 (date) — the date of the event requiring this filing

Forward-Looking Statements

• Victory Capital Management Inc. will maintain a significant institutional stake in Prosperity Bancshares Inc. for the foreseeable future. (Victory Capital Management Inc.) — medium confidence, target: December 31, 2024

FAQ

Filing Documents

• prosperitybanc13ga1_123123.htm (SC 13G/A) — 41KB
• 0001040188-24-000017.txt ( ) — 43KB

If this statement is filed

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) x An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); (h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) ¨ Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 5,928,697 (b) Percent of class: 6.33% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 5,829,361 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 5,928,697 (iv) Shared power to dispose or to direct the disposition of: 0 Instruction . For computations regarding securities which represent a right to acquire an underlying security see §240.13d-3(d)(1).

Ownership of Five Percent

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial

Ownership of More than

Item 6. Ownership of More than Five Percent on Behalf of Another Person. The clients of Victory Capital Management Inc., including investment companies registered under the Investment Company Act of 1940 and separately managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the class of securities reported herein. No client has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5% of such class.

Identification and Classification

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable

Identification and Classification

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution

Item 9. Notice of Dissolution of Group. Not applicable.

Certification

Item 10. Certification. (a) The following certification shall be included if the statement is filed pursuant to §240.13d-1(b): By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. CUSIP No. 743606105 13G Page 4 of 4 Pages After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. 2/6/2024 Date /s/ Barry Garrett Signature Barry Garrett/ Chief Compliance Officer Name/Title

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View this SC 13G/A filing on SEC EDGAR