New York State Teachers Retirement System held its stake in shares of Prosperity Bancshares Inc. (NYSE:PB) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 119,096 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Prosperity Bancshares were worth $6,073,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. LS Investment Advisors LLC raised its stake in shares of Prosperity Bancshares by 74.6% in the second quarter. LS Investment Advisors LLC now owns 3,926 shares of the company’s stock worth $200,000 after buying an additional 1,677 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Prosperity Bancshares during the second quarter worth approximately $214,000. LaSalle Street Capital Management LLC raised its stake in shares of Prosperity Bancshares by 3.5% in the second quarter. LaSalle Street Capital Management LLC now owns 4,507 shares of the company’s stock worth $230,000 after buying an additional 152 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of Prosperity Bancshares by 5.1% in the second quarter. Capstone Asset Management Co. now owns 6,443 shares of the company’s stock worth $329,000 after buying an additional 310 shares in the last quarter. Finally, Alpha Windward LLC purchased a new stake in shares of Prosperity Bancshares during the second quarter worth approximately $398,000. Institutional investors and hedge funds own 80.30% of the company’s stock.
Prosperity Bancshares Inc. (NYSE:PB) traded up 2.73% during midday trading on Friday, reaching $54.89. The company’s stock had a trading volume of 319,118 shares. The stock’s 50 day moving average is $54.03 and its 200 day moving average is $51.16. Prosperity Bancshares Inc. has a 12-month low of $33.57 and a 12-month high of $57.04. The stock has a market cap of $3.81 billion, a P/E ratio of 13.83 and a beta of 1.33.
Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by $0.01. Prosperity Bancshares had a net margin of 34.93% and a return on equity of 7.99%. During the same period last year, the business posted $1.03 earnings per share. Analysts anticipate that Prosperity Bancshares Inc. will post $3.94 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, September 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 30.15%.
A number of equities research analysts recently commented on PB shares. Evercore ISI upgraded Prosperity Bancshares from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Thursday, June 9th. Compass Point started coverage on Prosperity Bancshares in a research report on Tuesday, June 7th. They issued a “neutral” rating and a $50.00 target price on the stock. Hovde Group upgraded Prosperity Bancshares from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a research report on Wednesday, June 29th. Finally, Zacks Investment Research lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.58.
In other news, Director Robert H. Steelhammer sold 2,900 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $54.00, for a total transaction of $156,600.00. Following the sale, the director now owns 160,800 shares of the company’s stock, valued at approximately $8,683,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Perry Mueller, Jr. sold 13,536 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $54.00, for a total value of $730,944.00. Following the sale, the director now directly owns 6,723 shares in the company, valued at approximately $363,042. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Prosperity Bancshares Company Profile
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.
Want to see what other hedge funds are holding PB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prosperity Bancshares Inc. (NYSE:PB).
Receive News & Ratings for Prosperity Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prosperity Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.