Barings LLC Has $356,000 Stake in Prosperity Bancshares, Inc. (PB)

Barings LLC continued to hold its position in Prosperity Bancshares, Inc. (NYSE:PB) during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,100 shares of the bank’s stock at the end of the second quarter. Barings LLC’s holdings in Prosperity Bancshares were worth $356,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Sigma Planning Corp lifted its stake in Prosperity Bancshares by 0.5% during the second quarter. Sigma Planning Corp now owns 5,251 shares of the bank’s stock worth $337,000 after purchasing an additional 26 shares in the last quarter. World Asset Management Inc lifted its stake in Prosperity Bancshares by 2.2% during the second quarter. World Asset Management Inc now owns 4,358 shares of the bank’s stock worth $280,000 after purchasing an additional 93 shares in the last quarter. Bank of Montreal Can lifted its stake in Prosperity Bancshares by 0.5% during the second quarter. Bank of Montreal Can now owns 20,975 shares of the bank’s stock worth $1,348,000 after purchasing an additional 98 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Prosperity Bancshares by 2.2% during the second quarter. Teacher Retirement System of Texas now owns 5,289 shares of the bank’s stock worth $340,000 after purchasing an additional 114 shares in the last quarter. Finally, Huntington National Bank lifted its stake in Prosperity Bancshares by 9.2% during the second quarter. Huntington National Bank now owns 1,689 shares of the bank’s stock worth $109,000 after purchasing an additional 143 shares in the last quarter. Institutional investors own 72.88% of the company’s stock.

In related news, Director Robert H. Steelhammer sold 5,000 shares of Prosperity Bancshares stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $61.51, for a total transaction of $307,550.00. Following the transaction, the director now owns 142,800 shares in the company, valued at approximately $8,783,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.93% of the company’s stock.

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Shares of Prosperity Bancshares, Inc. (NYSE:PB) opened at 63.96 on Thursday. Prosperity Bancshares, Inc. has a 52-week low of $52.81 and a 52-week high of $77.87. The stock’s 50 day moving average price is $62.12 and its 200-day moving average price is $64.28. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 16.19 and a beta of 1.36.

Prosperity Bancshares (NYSE:PB) last posted 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 business had revenue of $180.01 million for the quarter, compared to analyst estimates of $187.13 million. Prosperity Bancshares had a net margin of 35.20% and a return on equity of 7.49%. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, analysts predict that Prosperity Bancshares, Inc. will post $3.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, September 14th. This represents a $1.36 annualized dividend and a dividend yield of 2.13%. Prosperity Bancshares’s payout ratio is 34.34%.

PB has been the topic of a number of research reports. Hovde Group decreased their price target on Prosperity Bancshares from $70.00 to $68.00 and set a “market perform” rating on the stock in a research note on Monday, June 26th. BidaskClub cut Prosperity Bancshares from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research cut Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Piper Jaffray Companies restated a “hold” rating and set a $73.50 price target on shares of Prosperity Bancshares in a research note on Friday, July 14th. Finally, Stephens set a $73.00 price target on Prosperity Bancshares and gave the stock a “hold” rating in a research note on Wednesday, July 26th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Prosperity Bancshares currently has a consensus rating of “Hold” and an average price target of $71.05.

Prosperity Bancshares Profile

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.

Institutional Ownership by Quarter for Prosperity Bancshares (NYSE:PB)

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