Prosperity Bancshares, Inc. (PB) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. increased its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 21.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,746 shares of the bank’s stock after purchasing an additional 2,736 shares during the quarter. Victory Capital Management Inc.’s holdings in Prosperity Bancshares were worth $1,012,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Huntington National Bank lifted its holdings in Prosperity Bancshares by 9.2% in the second quarter. Huntington National Bank now owns 1,689 shares of the bank’s stock worth $109,000 after purchasing an additional 143 shares during the period. Quantbot Technologies LP acquired a new stake in Prosperity Bancshares in the first quarter worth about $154,000. PNC Financial Services Group Inc. lifted its holdings in Prosperity Bancshares by 13.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the bank’s stock worth $156,000 after purchasing an additional 269 shares during the period. Engineers Gate Manager LP acquired a new stake in Prosperity Bancshares in the first quarter worth about $244,000. Finally, OppenheimerFunds Inc. acquired a new stake in Prosperity Bancshares in the first quarter worth about $271,000. 72.90% of the stock is owned by institutional investors and hedge funds.
In other Prosperity Bancshares news, Director Robert H. Steelhammer sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the director now owns 137,800 shares in the company, valued at $8,268,000. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert H. Steelhammer sold 4,000 shares of the firm’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $64.35, for a total value of $257,400.00. Following the transaction, the director now owns 147,800 shares in the company, valued at approximately $9,510,930. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,000 shares of company stock worth $864,950. Company insiders own 4.93% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $71.00 price objective on shares of Prosperity Bancshares in a report on Friday, September 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Prosperity Bancshares in a report on Tuesday, August 29th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Prosperity Bancshares in a report on Thursday, August 10th. UBS AG downgraded shares of Prosperity Bancshares to an “underperform” rating in a report on Thursday, August 10th. Finally, Barclays PLC began coverage on shares of Prosperity Bancshares in a research report on Thursday, August 3rd. They issued an “overweight” rating and a $72.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $71.23.
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Shares of Prosperity Bancshares, Inc. (NYSE PB) opened at 60.00 on Friday. The firm’s 50-day moving average price is $61.67 and its 200 day moving average price is $65.70. The firm has a market cap of $4.17 billion, a P/E ratio of 15.19 and a beta of 1.34. Prosperity Bancshares, Inc. has a 12-month low of $52.44 and a 12-month high of $77.87.
Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, July 26th. The bank reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $180.01 million for the quarter, compared to the consensus estimate of $187.13 million. During the same quarter last year, the business posted $0.98 EPS. On average, equities analysts expect that Prosperity Bancshares, Inc. will post $3.96 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Thursday, September 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 34.34%.
About Prosperity Bancshares
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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