Sigma Planning Corp increased its position in Prosperity Bancshares, Inc. (NYSE:PB) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,251 shares of the bank’s stock after buying an additional 26 shares during the period. Sigma Planning Corp’s holdings in Prosperity Bancshares were worth $337,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of PB. BlackRock Inc. raised its position in Prosperity Bancshares by 17,208.1% in the first quarter. BlackRock Inc. now owns 7,302,992 shares of the bank’s stock valued at $509,091,000 after buying an additional 7,260,798 shares during the period. FMR LLC raised its position in Prosperity Bancshares by 43.7% in the first quarter. FMR LLC now owns 1,729,603 shares of the bank’s stock valued at $120,571,000 after buying an additional 526,028 shares during the period. Wellington Management Group LLP acquired a new position in Prosperity Bancshares during the first quarter valued at approximately $35,311,000. State Street Corp raised its position in Prosperity Bancshares by 16.0% in the first quarter. State Street Corp now owns 3,550,676 shares of the bank’s stock valued at $247,517,000 after buying an additional 489,811 shares during the period. Finally, Vanguard Group Inc. raised its position in Prosperity Bancshares by 6.5% in the first quarter. Vanguard Group Inc. now owns 6,056,179 shares of the bank’s stock valued at $422,176,000 after buying an additional 370,991 shares during the period. 75.31% of the stock is currently owned by institutional investors and hedge funds.
Prosperity Bancshares, Inc. (PB) opened at 62.52 on Thursday. The firm has a market cap of $4.34 billion, a P/E ratio of 15.83 and a beta of 1.33. The firm has a 50-day moving average of $64.35 and a 200 day moving average of $67.70. Prosperity Bancshares, Inc. has a 1-year low of $52.19 and a 1-year high of $77.87.
Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, July 26th. The bank reported $0.99 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.01. The company had revenue of $180.01 million during the quarter, compared to the consensus estimate of $187.13 million. Prosperity Bancshares had a return on equity of 7.49% and a net margin of 35.20%. During the same period in the previous year, the firm posted $0.98 EPS. On average, analysts predict that Prosperity Bancshares, Inc. will post $3.99 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, September 14th. Prosperity Bancshares’s payout ratio is currently 34.34%.
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Several equities analysts recently commented on PB shares. Stephens set a $73.00 target price on Prosperity Bancshares and gave the company a “hold” rating in a report on Wednesday, July 26th. Barclays PLC started coverage on Prosperity Bancshares in a report on Thursday, August 3rd. They issued an “overweight” rating and a $72.00 target price on the stock. BidaskClub lowered Prosperity Bancshares from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. Hovde Group dropped their target price on Prosperity Bancshares from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Monday, June 26th. Finally, ValuEngine raised Prosperity Bancshares from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $71.25.
In other news, Director Robert H. Steelhammer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $65.10, for a total value of $651,000.00. Following the completion of the sale, the director now owns 156,800 shares of the company’s stock, valued at approximately $10,207,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert H. Steelhammer sold 4,000 shares of the business’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $64.35, for a total transaction of $257,400.00. Following the completion of the sale, the director now directly owns 147,800 shares of the company’s stock, valued at approximately $9,510,930. The disclosure for this sale can be found here. 4.93% of the stock is currently owned by insiders.
About Prosperity Bancshares
Prosperity Bancshares, Inc is a financial holding company, which operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. The Company, through the Bank, offers a range of loan and deposit products to its customers.
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