Atlanta Capital Management Co. L L C increased its position in Prosperity Bancshares, Inc. (NYSE:PB) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 516,466 shares of the bank’s stock after buying an additional 10,662 shares during the quarter. Atlanta Capital Management Co. L L C owned 0.74% of Prosperity Bancshares worth $33,178,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank increased its position in Prosperity Bancshares by 9.2% during the 2nd quarter. Huntington National Bank now owns 1,689 shares of the bank’s stock valued at $109,000 after purchasing an additional 143 shares during the period. Pacad Investment Ltd. purchased a new position in Prosperity Bancshares during the 2nd quarter valued at $109,000. PNC Financial Services Group Inc. increased its position in Prosperity Bancshares by 13.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the bank’s stock valued at $156,000 after purchasing an additional 269 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Prosperity Bancshares by 17.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,489 shares of the bank’s stock valued at $160,000 after purchasing an additional 369 shares during the period. Finally, Riverhead Capital Management LLC increased its position in Prosperity Bancshares by 42.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,428 shares of the bank’s stock valued at $220,000 after purchasing an additional 1,028 shares during the period. 72.88% of the stock is currently owned by institutional investors.

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 value of $300,000.00. Following the completion of the sale, the director now owns 137,800 shares of the company’s stock, valued at $8,268,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.93% of the stock is currently owned by company insiders.

ILLEGAL ACTIVITY WARNING: “Atlanta Capital Management Co. L L C Has $33.18 Million Position in Prosperity Bancshares, Inc. (PB)” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://www.thecerbatgem.com/2017/10/11/atlanta-capital-management-co-l-l-c-has-33-18-million-position-in-prosperity-bancshares-inc-pb.html.

Prosperity Bancshares, Inc. (NYSE PB) traded down 0.52% during mid-day trading on Wednesday, hitting $64.57. 39,926 shares of the stock were exchanged. Prosperity Bancshares, Inc. has a 52-week low of $52.81 and a 52-week high of $77.87. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 16.35 and a beta of 1.36. The stock has a 50 day moving average of $61.65 and a 200-day moving average of $64.46.

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 consensus estimate of $1.00 by ($0.01). The company had revenue of $180.01 million during the quarter, compared to analysts’ expectations of $187.13 million. Prosperity Bancshares had a net margin of 35.20% and a return on equity of 7.49%. During the same quarter last year, the firm earned $0.98 EPS. Equities analysts predict that Prosperity Bancshares, Inc. will post $3.96 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Thursday, September 14th. Prosperity Bancshares’s dividend payout ratio is presently 34.34%.

PB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and set a $73.00 price objective on shares of Prosperity Bancshares in a research report on Tuesday, August 29th. BidaskClub downgraded shares of Prosperity Bancshares from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Stephens set a $73.00 price objective on shares of Prosperity Bancshares and gave the company a “hold” rating in a research report on Wednesday, July 26th. Royal Bank Of Canada reissued a “hold” rating and set a $71.00 price objective on shares of Prosperity Bancshares in a research report on Friday, September 8th. Finally, Zacks Investment Research downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Prosperity Bancshares currently has an average rating of “Hold” and a consensus price target of $69.95.

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.

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

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