Amica Retiree Medical Trust Has $491,000 Stake in Prosperity Bancshares, Inc. (PB)
Amica Retiree Medical Trust grew its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 22.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,475 shares of the bank’s stock after acquiring an additional 1,376 shares during the quarter. Amica Retiree Medical Trust’s holdings in Prosperity Bancshares were worth $491,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in PB. Canada Pension Plan Investment Board acquired a new stake in Prosperity Bancshares in the third quarter worth about $105,000. Huntington National Bank lifted its holdings in Prosperity Bancshares by 9.2% in 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 period. Pacad Investment Ltd. acquired a new stake in Prosperity Bancshares in the second quarter worth about $109,000. PNC Financial Services Group Inc. lifted its holdings in Prosperity Bancshares by 8.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,424 shares of the bank’s stock worth $156,000 after purchasing an additional 185 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Prosperity Bancshares by 17.4% in 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 period. 76.27% of the stock is owned by institutional investors.
In other Prosperity Bancshares news, Director Robert H. Steelhammer sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the sale, the director now directly owns 137,800 shares in the company, valued at $8,268,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.93% of the stock is currently owned by insiders.
Shares of Prosperity Bancshares, Inc. (NYSE PB) traded down $0.32 during trading on Friday, reaching $65.65. 139,100 shares of the company’s stock traded hands, compared to its average volume of 469,277. Prosperity Bancshares, Inc. has a 12-month low of $55.84 and a 12-month high of $77.87. The company has a market capitalization of $4,561.63, a PE ratio of 16.62, a PEG ratio of 1.66 and a beta of 1.36.
Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Prosperity Bancshares had a net margin of 34.79% and a return on equity of 7.38%. The firm had revenue of $184.96 million for the quarter, compared to analysts’ expectations of $185.59 million. During the same period in the previous year, the business earned $0.99 earnings per share. equities analysts anticipate that Prosperity Bancshares, Inc. will post 3.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This is a boost from Prosperity Bancshares’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 2.19%. Prosperity Bancshares’s payout ratio is 34.43%.
PB has been the subject of several research analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Prosperity Bancshares in a report on Thursday, July 27th. Barclays PLC initiated coverage on shares of Prosperity Bancshares in a report on Thursday, August 3rd. They issued an “overweight” rating and a $72.00 price objective for the company. UBS AG downgraded shares of Prosperity Bancshares to an “underperform” rating in a report on Thursday, August 10th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Prosperity Bancshares in a report on Thursday, August 10th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $71.00 price objective on shares of Prosperity Bancshares in a report on Friday, September 8th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $71.05.
Prosperity Bancshares Company 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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