GSA Capital Partners LLP purchased a new position in shares of Prosperity Bancshares, Inc. (NYSE:PB) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,940 shares of the bank’s stock, valued at approximately $639,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its holdings 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 during the last quarter. Pacad Investment Ltd. purchased a new position in Prosperity Bancshares during the second quarter worth about $109,000. Quantbot Technologies LP purchased a new position in Prosperity Bancshares during the first quarter worth about $154,000. PNC Financial Services Group Inc. boosted its holdings in Prosperity Bancshares by 13.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the bank’s stock worth $156,000 after purchasing an additional 269 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Prosperity Bancshares by 17.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,489 shares of the bank’s stock worth $160,000 after purchasing an additional 369 shares during the last quarter. Institutional investors and hedge funds own 72.88% of the company’s stock.
In related news, Director Robert H. Steelhammer sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the director now owns 137,800 shares of the company’s stock, valued at $8,268,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.93% of the company’s stock.
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Shares of Prosperity Bancshares, Inc. (PB) opened at 64.67 on Friday. The stock has a 50 day moving average of $61.42 and a 200 day moving average of $64.56. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 16.37 and a beta of 1.36. Prosperity Bancshares, Inc. has a 52-week low of $52.81 and a 52-week high of $77.87.
Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, July 26th. The bank reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.01). The business had revenue of $180.01 million during the quarter, compared to analysts’ expectations 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 business posted $0.98 EPS. On average, equities research analysts expect that Prosperity Bancshares, Inc. will post $3.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Thursday, September 14th. Prosperity Bancshares’s payout ratio is 34.34%.
PB has been the topic of several analyst reports. SunTrust Banks, Inc. restated a “buy” rating and set a $73.00 price target on shares of Prosperity Bancshares in a report on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $73.00 target price on shares of Prosperity Bancshares in a research note on Tuesday, August 29th. Stephens set a $73.00 target price on shares of Prosperity Bancshares and gave the company a “hold” rating in a research note on Wednesday, July 26th. BidaskClub upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $73.50 target price on shares of Prosperity Bancshares in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Prosperity Bancshares currently has an average rating of “Hold” and a consensus price target of $69.95.
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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