Loomis Sayles & Co. L P decreased its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 397,811 shares of the bank’s stock after selling 5,094 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.57% of Prosperity Bancshares worth $27,589,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in Prosperity Bancshares by 5,391.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,077,672 shares of the bank’s stock worth $144,086,000 after buying an additional 2,039,840 shares during the period. Atlanta Capital Management Co. L L C lifted its holdings in Prosperity Bancshares by 218.3% during the 3rd quarter. Atlanta Capital Management Co. L L C now owns 1,660,955 shares of the bank’s stock worth $115,187,000 after buying an additional 1,139,085 shares during the period. Findlay Park Partners LLP lifted its holdings in Prosperity Bancshares by 53.1% during the 2nd quarter. Findlay Park Partners LLP now owns 2,924,575 shares of the bank’s stock worth $199,924,000 after buying an additional 1,014,890 shares during the period. American Century Companies Inc. acquired a new position in Prosperity Bancshares during the 3rd quarter worth about $42,766,000. Finally, Millennium Management LLC acquired a new position in Prosperity Bancshares during the 2nd quarter worth about $17,134,000. 81.31% of the stock is currently owned by institutional investors.

Shares of NYSE:PB opened at $66.61 on Thursday. The stock has a market capitalization of $4.65 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.71 and a beta of 1.33. Prosperity Bancshares, Inc. has a 1 year low of $60.15 and a 1 year high of $79.20.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, October 24th. The bank reported $1.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.18. The company had revenue of $187.94 million for the quarter, compared to the consensus estimate of $189.08 million. Prosperity Bancshares had a return on equity of 7.86% and a net margin of 36.91%. During the same period in the previous year, the business earned $0.98 EPS. Sell-side analysts predict that Prosperity Bancshares, Inc. will post 4.59 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Saturday, December 15th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, December 13th. Prosperity Bancshares’s payout ratio is currently 36.55%.

Several research analysts have commented on PB shares. SunTrust Banks cut their target price on Prosperity Bancshares to $68.00 and set a “buy” rating on the stock in a report on Thursday, October 25th. They noted that the move was a valuation call. Morgan Stanley cut their target price on Prosperity Bancshares from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 18th. Stephens set a $70.00 target price on Prosperity Bancshares and gave the stock a “hold” rating in a report on Wednesday, October 24th. Zacks Investment Research raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Finally, Robert W. Baird raised Prosperity Bancshares from a “neutral” rating to an “outperform” rating in a report on Thursday, October 25th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $73.60.

In other Prosperity Bancshares news, Director Robert H. Steelhammer sold 3,615 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $62.97, for a total transaction of $227,636.55. Following the completion of the sale, the director now directly owns 135,235 shares of the company’s stock, valued at approximately $8,515,747.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert H. Steelhammer sold 2,180 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $65.44, for a total value of $142,659.20. Following the sale, the director now directly owns 133,055 shares of the company’s stock, valued at $8,707,119.20. The disclosure for this sale can be found here. 5.05% of the stock is owned by insiders.

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About Prosperity Bancshares

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; and consumer durables and home equity loans.

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Institutional Ownership by Quarter for Prosperity Bancshares (NYSE:PB)

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