Sather Financial Group Inc bought a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,293 shares of the bank’s stock, valued at approximately $545,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new position in Prosperity Bancshares during the third quarter valued at $105,000. Pacad Investment Ltd. bought a new position in Prosperity Bancshares during the second quarter valued at $109,000. PNC Financial Services Group Inc. lifted its position in Prosperity Bancshares by 8.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,424 shares of the bank’s stock valued at $156,000 after purchasing an additional 185 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Prosperity Bancshares by 17.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,489 shares of the bank’s stock valued at $160,000 after purchasing an additional 369 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its position in Prosperity Bancshares by 42.8% during the second quarter. Riverhead Capital Management LLC now owns 3,428 shares of the bank’s stock valued at $220,000 after purchasing an additional 1,028 shares during the last quarter. 76.92% of the stock is owned by institutional investors.
Several equities analysts have commented on the stock. ValuEngine upgraded shares of Prosperity Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. SunTrust Banks reiterated a “buy” rating and set a $77.00 price objective on shares of Prosperity Bancshares in a research report on Wednesday, November 29th. UBS lowered shares of Prosperity Bancshares to an “underperform” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Finally, Raymond James Financial reiterated an “underperform” rating on shares of Prosperity Bancshares in a research report on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $71.45.
Prosperity Bancshares, Inc. (PB) traded down $2.50 during trading on Wednesday, hitting $68.95. 383,100 shares of the stock traded hands, compared to its average volume of 464,961. The company has a market cap of $4,964.63, a price-to-earnings ratio of 18.09, a PEG ratio of 1.81 and a beta of 1.37. Prosperity Bancshares, Inc. has a 12-month low of $55.84 and a 12-month high of $77.87.
Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, October 25th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The firm had revenue of $184.96 million during the quarter, compared to analyst estimates of $185.59 million. Prosperity Bancshares had a net margin of 34.79% and a return on equity of 7.38%. During the same quarter last year, the business earned $0.99 EPS. analysts anticipate that Prosperity Bancshares, Inc. will post 3.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, December 14th. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.34. Prosperity Bancshares’s dividend payout ratio (DPR) is 34.43%.
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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.
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