Martin & Co. Inc. TN Reduces Holdings in Prosperity Bancshares, Inc. (PB)

Martin & Co. Inc. TN lessened its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,080 shares of the bank’s stock after selling 2,575 shares during the period. Martin & Co. Inc. TN’s holdings in Prosperity Bancshares were worth $1,977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. California Public Employees Retirement System boosted its holdings in shares of Prosperity Bancshares by 2.4% during the 3rd quarter. California Public Employees Retirement System now owns 174,841 shares of the bank’s stock valued at $11,492,000 after purchasing an additional 4,025 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Prosperity Bancshares by 108.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,957,916 shares of the bank’s stock valued at $128,701,000 after acquiring an additional 1,017,115 shares during the last quarter. Maltese Capital Management LLC lifted its holdings in shares of Prosperity Bancshares by 97.8% in the 3rd quarter. Maltese Capital Management LLC now owns 171,900 shares of the bank’s stock valued at $11,299,000 after acquiring an additional 85,000 shares during the last quarter. Sather Financial Group Inc bought a new position in shares of Prosperity Bancshares in the 3rd quarter valued at about $545,000. Finally, King Luther Capital Management Corp lifted its holdings in shares of Prosperity Bancshares by 24.4% in the 3rd quarter. King Luther Capital Management Corp now owns 31,138 shares of the bank’s stock valued at $2,047,000 after acquiring an additional 6,112 shares during the last quarter. 76.92% of the stock is owned by institutional investors and hedge funds.

Shares of Prosperity Bancshares, Inc. (PB) traded up $0.80 during midday trading on Wednesday, reaching $69.59. 414,800 shares of the company’s stock traded hands, compared to its average volume of 462,243. The company has a market capitalization of $4,779.81, a P/E ratio of 17.42, a P/E/G ratio of 1.74 and a beta of 1.37. Prosperity Bancshares, Inc. has a twelve month low of $55.84 and a twelve month high of $77.87.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The business had revenue of $184.96 million during the quarter, compared to the consensus estimate of $185.59 million. Prosperity Bancshares had a net margin of 34.79% and a return on equity of 7.38%. During the same quarter last year, the firm earned $0.99 earnings per share. equities research analysts predict that Prosperity Bancshares, Inc. will post 3.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a $0.36 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.44 annualized dividend and a yield of 2.07%. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.34. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 34.43%.

PB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $73.00 price target on shares of Prosperity Bancshares in a report on Tuesday, August 29th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $71.00 price target on shares of Prosperity Bancshares in a report on Friday, September 8th. Zacks Investment Research downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. SunTrust Banks reaffirmed a “buy” rating and issued a $73.00 price target on shares of Prosperity Bancshares in a report on Monday, October 2nd. Finally, ValuEngine downgraded shares of Prosperity Bancshares from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Prosperity Bancshares currently has a consensus rating of “Hold” and an average price target of $71.45.

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Prosperity Bancshares 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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