GHP Investment Advisors Inc. raised its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 4.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,620 shares of the bank’s stock after purchasing an additional 777 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Prosperity Bancshares were worth $1,165,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in PB. Janus Henderson Group PLC raised its stake in Prosperity Bancshares by 108.1% in the third quarter. Janus Henderson Group PLC now owns 1,957,916 shares of the bank’s stock valued at $128,701,000 after buying an additional 1,017,115 shares during the period. Deprince Race & Zollo Inc. raised its stake in Prosperity Bancshares by 59.5% in the third quarter. Deprince Race & Zollo Inc. now owns 684,927 shares of the bank’s stock valued at $45,020,000 after buying an additional 255,384 shares during the period. Envestnet Asset Management Inc. raised its stake in Prosperity Bancshares by 3,568.8% in the third quarter. Envestnet Asset Management Inc. now owns 190,669 shares of the bank’s stock valued at $12,532,000 after buying an additional 185,472 shares during the period. Russell Investments Group Ltd. raised its stake in Prosperity Bancshares by 60.0% in the third quarter. Russell Investments Group Ltd. now owns 368,578 shares of the bank’s stock valued at $24,226,000 after buying an additional 138,258 shares during the period. Finally, Maltese Capital Management LLC raised its stake in Prosperity Bancshares by 97.8% in the third quarter. Maltese Capital Management LLC now owns 171,900 shares of the bank’s stock valued at $11,299,000 after buying an additional 85,000 shares during the period. Hedge funds and other institutional investors own 77.78% of the company’s stock.
Several analysts have issued reports on the company. DA Davidson upped their price objective on Prosperity Bancshares to $80.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. SunTrust Banks restated a “buy” rating and issued a $85.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, January 25th. ValuEngine upgraded Prosperity Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research lowered Prosperity Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $79.00 target price on shares of Prosperity Bancshares in a research note on Friday, December 22nd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $74.45.
Prosperity Bancshares, Inc. (NYSE:PB) opened at $77.81 on Wednesday. The firm has a market capitalization of $5,495.75, a P/E ratio of 19.80, a PEG ratio of 1.65 and a beta of 1.32. Prosperity Bancshares, Inc. has a 52 week low of $55.84 and a 52 week high of $79.20.
Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, January 24th. The bank reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.01). The firm had revenue of $185.27 million for the quarter, compared to the consensus estimate of $185.43 million. Prosperity Bancshares had a return on equity of 7.28% and a net margin of 34.28%. During the same quarter last year, the business posted $0.99 EPS. equities analysts expect that Prosperity Bancshares, Inc. will post 4.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 16th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.85%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 36.64%.
Prosperity Bancshares announced that its Board of Directors has initiated a share buyback program on Friday, January 19th that authorizes the company to buyback 3,470,000 outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
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.
Want to see what other hedge funds are holding PB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prosperity Bancshares, Inc. (NYSE:PB).
Receive News & Ratings for Prosperity Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prosperity Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.