Prosperity Bancshares, Inc. (PB) Shares Sold by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado lessened its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 128,591 shares of the bank’s stock after selling 2,551 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.19% of Prosperity Bancshares worth $8,452,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Prosperity Bancshares by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,097,861 shares of the bank’s stock worth $391,727,000 after buying an additional 41,682 shares in the last quarter. FMR LLC grew its position in shares of Prosperity Bancshares by 14.5% during the 2nd quarter. FMR LLC now owns 1,980,933 shares of the bank’s stock worth $127,255,000 after buying an additional 251,330 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Prosperity Bancshares by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,709,284 shares of the bank’s stock worth $109,809,000 after buying an additional 22,930 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Prosperity Bancshares during the 2nd quarter worth $60,440,000. Finally, Wedge Capital Management L L P NC grew its position in shares of Prosperity Bancshares by 0.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 812,467 shares of the bank’s stock worth $52,193,000 after buying an additional 6,217 shares in the last quarter. 71.97% of the stock is currently owned by institutional investors.
Shares of Prosperity Bancshares, Inc. (NYSE:PB) opened at $65.92 on Friday. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 1.66 and a beta of 1.36. Prosperity Bancshares, Inc. has a 12 month low of $52.81 and a 12 month high of $77.87.
Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $184.96 million during the quarter, compared to analysts’ expectations of $185.59 million. Prosperity Bancshares had a return on equity of 7.38% and a net margin of 34.79%. During the same period in the prior year, the business posted $0.99 EPS. analysts forecast that Prosperity Bancshares, Inc. will post 3.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a dividend of $0.36 per share. This is a boost from Prosperity Bancshares’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Thursday, December 14th. Prosperity Bancshares’s dividend payout ratio is 34.52%.
In other Prosperity Bancshares news, Director Robert H. Steelhammer sold 5,000 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the director now directly owns 137,800 shares in the company, valued at $8,268,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.93% of the company’s stock.
PB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reissued a “hold” rating and set a $73.00 price target on shares of Prosperity Bancshares in a research report on Tuesday, August 29th. Zacks Investment Research downgraded Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Royal Bank Of Canada reissued a “hold” rating and set a $71.00 price target on shares of Prosperity Bancshares in a research report on Friday, September 8th. SunTrust Banks, Inc. reissued a “buy” rating and set a $73.00 price target on shares of Prosperity Bancshares in a research report on Monday, October 2nd. Finally, Stephens set a $73.00 price target on Prosperity Bancshares and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $71.05.
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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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