West Family Investments Inc. Purchases Shares of 7,168 Prosperity Bancshares, Inc. $PB

West Family Investments Inc. bought a new stake in Prosperity Bancshares, Inc. (NYSE:PB) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,168 shares of the bank’s stock, valued at approximately $523,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sepio Capital LP increased its position in Prosperity Bancshares by 2.4% during the 4th quarter. Sepio Capital LP now owns 5,701 shares of the bank’s stock worth $394,000 after purchasing an additional 133 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Prosperity Bancshares by 1.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,324 shares of the bank’s stock valued at $990,000 after buying an additional 145 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Prosperity Bancshares by 34.9% during the 2nd quarter. Osaic Holdings Inc. now owns 719 shares of the bank’s stock valued at $51,000 after buying an additional 186 shares during the period. Parkside Financial Bank & Trust lifted its position in Prosperity Bancshares by 52.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 576 shares of the bank’s stock worth $42,000 after acquiring an additional 197 shares in the last quarter. Finally, Earned Wealth Advisors LLC lifted its position in shares of Prosperity Bancshares by 6.2% during the first quarter. Earned Wealth Advisors LLC now owns 3,639 shares of the bank’s stock worth $244,000 after purchasing an additional 213 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned Holmes sold 600 shares of Prosperity Bancshares stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $71.66, for a total transaction of $42,996.00. Following the transaction, the director owned 40,100 shares in the company, valued at approximately $2,873,566. The trade was a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 11,000 shares of company stock worth $803,147 in the last quarter. Insiders own 3.96% of the company’s stock.

Prosperity Bancshares Stock Performance

Shares of PB opened at $71.83 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $7.24 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 0.63. Prosperity Bancshares, Inc. has a 12-month low of $61.06 and a 12-month high of $77.20. The firm’s 50 day moving average is $73.04 and its 200-day moving average is $70.42.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, July 29th. The bank reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.12. Prosperity Bancshares had a return on equity of 7.39% and a net margin of 29.95%.The company had revenue of $391.25 million during the quarter, compared to the consensus estimate of $380.73 million. During the same quarter in the prior year, the firm earned $1.42 EPS. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. Equities research analysts anticipate that Prosperity Bancshares, Inc. will post 6.47 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.40 dividend on an annualized basis and a yield of 3.3%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 41.59%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PB. Benchmark started coverage on Prosperity Bancshares in a report on Wednesday, June 24th. They issued a “hold” rating for the company. Citigroup lifted their price target on shares of Prosperity Bancshares from $75.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Royal Bank Of Canada upped their price objective on Prosperity Bancshares from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded Prosperity Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $78.36.

Prosperity Bancshares Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.