Foundry Partners LLC decreased its stake in shares of Prosperity Bancshares Inc. (NYSE:PB) by 0.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,948 shares of the company’s stock after selling 48 shares during the period. Foundry Partners LLC owned about 0.14% of Prosperity Bancshares worth $5,486,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in shares of Prosperity Bancshares by 7.5% in the second quarter. Macquarie Group Ltd. now owns 1,259,765 shares of the company’s stock valued at $64,235,000 after buying an additional 87,738 shares during the last quarter. Mason Street Advisors LLC bought a new stake in shares of Prosperity Bancshares during the second quarter valued at about $1,521,000. Public Employees Retirement System of Ohio raised its stake in shares of Prosperity Bancshares by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 47,313 shares of the company’s stock valued at $2,412,000 after buying an additional 134 shares during the last quarter. Calvert Investment Management Inc. raised its stake in shares of Prosperity Bancshares by 11.9% in the second quarter. Calvert Investment Management Inc. now owns 5,343 shares of the company’s stock valued at $272,000 after buying an additional 570 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Prosperity Bancshares by 3.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 355,409 shares of the company’s stock valued at $18,123,000 after buying an additional 12,293 shares during the last quarter. 81.48% of the stock is owned by institutional investors.

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

Shares of Prosperity Bancshares Inc. (NYSE:PB) traded up 1.30% on Friday, reaching $64.80. 796,973 shares of the company’s stock were exchanged. Prosperity Bancshares Inc. has a one year low of $33.57 and a one year high of $64.96. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 16.41 and a beta of 1.19. The company’s 50 day moving average is $55.37 and its 200-day moving average is $52.96.

Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, October 26th. The company reported $0.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.99. Prosperity Bancshares had a net margin of 34.83% and a return on equity of 7.83%. The firm earned $183.80 million during the quarter, compared to analyst estimates of $189.25 million. During the same period last year, the firm posted $1.01 earnings per share. Prosperity Bancshares’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, analysts anticipate that Prosperity Bancshares Inc. will post $3.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 16th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.10%. Prosperity Bancshares’s dividend payout ratio (DPR) is 30.30%.

Several brokerages have issued reports on PB. Wedbush lowered shares of Prosperity Bancshares from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $54.00 to $58.00 in a research report on Thursday. DA Davidson lowered shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating in a research report on Thursday, October 27th. Zacks Investment Research upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. Deutsche Bank AG boosted their price objective on shares of Prosperity Bancshares from $54.00 to $59.00 and gave the stock a “hold” rating in a report on Tuesday, October 11th. Finally, Hovde Group lowered shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating in a report on Monday, November 14th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Prosperity Bancshares has a consensus rating of “Hold” and an average target price of $52.79.

In related news, CFO David Hollaway sold 978 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $55.56, for a total value of $54,337.68. Following the completion of the sale, the chief financial officer now directly owns 156,510 shares in the company, valued at $8,695,695.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Perry Mueller, Jr. sold 13,536 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $54.00, for a total value of $730,944.00. Following the completion of the sale, the director now owns 6,723 shares of the company’s stock, valued at $363,042. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.

About Prosperity Bancshares

Prosperity Bancshares, Inc is a financial holding company. The Company 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’s additional products and services include trust services, brokerage, mortgage lending, credit card and independent sales organization (ISO) sponsorship operations.

5 Day Chart for NYSE:PB

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