Schwab Charles Investment Management Inc. boosted its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 391,276 shares of the bank’s stock after purchasing an additional 24,013 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Prosperity Bancshares were worth $27,417,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its position in Prosperity Bancshares by 60.3% during the second quarter. Public Employees Retirement System of Ohio now owns 71,170 shares of the bank’s stock valued at $4,572,000 after purchasing an additional 26,778 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Prosperity Bancshares by 45.2% during the third quarter. Handelsbanken Fonder AB now owns 450,000 shares of the bank’s stock valued at $29,578,000 after purchasing an additional 140,000 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Prosperity Bancshares by 1.2% in the third quarter. New York State Common Retirement Fund now owns 146,900 shares of the bank’s stock valued at $9,656,000 after acquiring an additional 1,800 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Prosperity Bancshares by 36.3% in the second quarter. Royal Bank of Canada now owns 6,548 shares of the bank’s stock valued at $421,000 after acquiring an additional 1,745 shares in the last quarter. Finally, South Dakota Investment Council lifted its position in shares of Prosperity Bancshares by 24.0% in the third quarter. South Dakota Investment Council now owns 138,284 shares of the bank’s stock valued at $9,089,000 after acquiring an additional 26,800 shares in the last quarter. Institutional investors own 76.63% of the company’s stock.

Shares of Prosperity Bancshares, Inc. (NYSE PB) opened at $74.76 on Wednesday. Prosperity Bancshares, Inc. has a twelve month low of $55.84 and a twelve month high of $77.89. The stock has a market capitalization of $5,190.00, a PE ratio of 19.07, a PEG ratio of 1.53 and a beta of 1.37.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.99 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.01). Prosperity Bancshares had a return on equity of 7.28% and a net margin of 34.28%. The company had revenue of $185.27 million for the quarter, compared to the consensus estimate of $185.43 million. During the same period in the previous year, the firm earned $0.99 earnings per share. equities analysts predict that Prosperity Bancshares, Inc. will post 4.78 EPS for the current fiscal year.

Prosperity Bancshares announced that its board has initiated a stock repurchase program on Friday, January 19th that permits the company to buyback 3,470,000 outstanding shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 16th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.44 annualized dividend and a yield of 1.93%. Prosperity Bancshares’s payout ratio is currently 36.73%.

In other news, insider Michael Epps sold 4,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $75.15, for a total transaction of $300,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Hollaway sold 1,800 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $75.60, for a total transaction of $136,080.00. Following the sale, the chief financial officer now directly owns 168,684 shares in the company, valued at $12,752,510.40. The disclosure for this sale can be found here. Insiders have sold 10,800 shares of company stock worth $818,280 over the last three months. 4.93% of the stock is currently owned by insiders.

Several equities analysts have recently commented on PB shares. Zacks Investment Research upgraded Prosperity Bancshares from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Friday, December 29th. SunTrust Banks restated a “buy” rating and issued a $85.00 price objective on shares of Prosperity Bancshares in a research report on Thursday, January 25th. ValuEngine upgraded Prosperity Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. Piper Jaffray Companies restated a “hold” rating and issued a $73.00 price objective on shares of Prosperity Bancshares in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $79.00 price objective on shares of Prosperity Bancshares in a research report on Friday, December 22nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $74.45.

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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.

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

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