Prosperity Bancshares, Inc. (PB) Shares Bought by King Luther Capital Management Corp
King Luther Capital Management Corp lifted its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 24.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,138 shares of the bank’s stock after acquiring an additional 6,112 shares during the quarter. King Luther Capital Management Corp’s holdings in Prosperity Bancshares were worth $2,047,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Prosperity Bancshares by 60.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 71,170 shares of the bank’s stock worth $4,572,000 after acquiring an additional 26,778 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Prosperity Bancshares by 45.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 450,000 shares of the bank’s stock worth $29,578,000 after acquiring an additional 140,000 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Prosperity Bancshares by 12.0% during the 2nd quarter. Legal & General Group Plc now owns 73,909 shares of the bank’s stock worth $4,748,000 after acquiring an additional 7,917 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Prosperity Bancshares by 36.3% during the 2nd quarter. Royal Bank of Canada now owns 6,548 shares of the bank’s stock worth $421,000 after acquiring an additional 1,745 shares in the last quarter. Finally, Clinton Group Inc. purchased a new stake in shares of Prosperity Bancshares during the 2nd quarter worth approximately $269,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the company. ValuEngine raised Prosperity Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. SunTrust Banks reissued a “buy” rating and set a $77.00 price target on shares of Prosperity Bancshares in a research note on Wednesday, November 29th. Zacks Investment Research lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $71.00 target price on shares of Prosperity Bancshares in a research note on Friday, September 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $73.00 target price on shares of Prosperity Bancshares in a research note on Tuesday, August 29th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Prosperity Bancshares has a consensus rating of “Hold” and a consensus target price of $71.45.
Shares of Prosperity Bancshares, Inc. (NYSE:PB) opened at $68.99 on Friday. Prosperity Bancshares, Inc. has a 52 week low of $55.84 and a 52 week high of $77.87. The stock has a market capitalization of $4,813.85, a P/E ratio of 17.54, a P/E/G ratio of 1.76 and a beta of 1.37.
Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, October 25th. The bank reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Prosperity Bancshares had a return on equity of 7.38% and a net margin of 34.79%. The firm had revenue of $184.96 million for the quarter, compared to analyst estimates of $185.59 million. During the same quarter in the prior year, the company earned $0.99 EPS. analysts predict that Prosperity Bancshares, Inc. will post 3.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.44 dividend on an annualized basis and a yield of 2.09%. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.34. Prosperity Bancshares’s dividend payout ratio is presently 34.43%.
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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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