Virtu KCG Holdings LLC Raises Stake in Prosperity Bancshares, Inc. (PB)
Virtu KCG Holdings LLC lifted its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 83.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,809 shares of the bank’s stock after acquiring an additional 5,384 shares during the period. Virtu KCG Holdings LLC’s holdings in Prosperity Bancshares were worth $759,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of PB. UBS Asset Management Americas Inc. increased its position in shares of Prosperity Bancshares by 33.4% during the first quarter. UBS Asset Management Americas Inc. now owns 36,550 shares of the bank’s stock worth $2,548,000 after acquiring an additional 9,145 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Prosperity Bancshares by 9.9% in the first quarter. Parametric Portfolio Associates LLC now owns 119,409 shares of the bank’s stock valued at $8,324,000 after purchasing an additional 10,779 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Prosperity Bancshares by 0.6% in the first quarter. Envestnet Asset Management Inc. now owns 7,026 shares of the bank’s stock valued at $489,000 after purchasing an additional 40 shares in the last quarter. Quantbot Technologies LP bought a new position in Prosperity Bancshares in the first quarter valued at $154,000. Finally, SG Americas Securities LLC grew its position in Prosperity Bancshares by 967.4% in the first quarter. SG Americas Securities LLC now owns 15,861 shares of the bank’s stock valued at $1,106,000 after purchasing an additional 14,375 shares in the last quarter. 72.88% of the stock is owned by institutional investors.
Shares of Prosperity Bancshares, Inc. (PB) opened at 63.99 on Thursday. The firm has a market cap of $4.45 billion, a PE ratio of 16.20 and a beta of 1.36. The firm has a 50-day moving average of $61.23 and a 200-day moving average of $64.61. Prosperity Bancshares, Inc. has a 52 week low of $52.81 and a 52 week high of $77.87.
Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, July 26th. The bank reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.01). Prosperity Bancshares had a return on equity of 7.49% and a net margin of 35.20%. The firm had revenue of $180.01 million during the quarter, compared to the consensus estimate of $187.13 million. During the same quarter in the previous year, the company earned $0.98 EPS. On average, analysts expect that Prosperity Bancshares, Inc. will post $3.96 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.36 annualized dividend and a dividend yield of 2.13%. Prosperity Bancshares’s payout ratio is 34.34%.
In other news, Director Robert H. Steelhammer sold 5,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were 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 owns 137,800 shares in the company, valued at approximately $8,268,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.93% of the company’s stock.
A number of research firms recently weighed in on PB. Zacks Investment Research downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub downgraded shares of Prosperity Bancshares from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 16th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $73.50 target price on shares of Prosperity Bancshares in a research report on Friday, July 14th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Prosperity Bancshares in a research report on Thursday, August 10th. Finally, UBS AG downgraded shares of Prosperity Bancshares to an “underperform” rating in a research report on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $69.95.
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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