Trexquant Investment LP lessened its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 64.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,178 shares of the bank’s stock after selling 7,722 shares during the quarter. Trexquant Investment LP’s holdings in Prosperity Bancshares were worth $275,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Prosperity Bancshares by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 6,097,861 shares of the bank’s stock valued at $391,727,000 after purchasing an additional 41,682 shares during the last quarter. FMR LLC boosted its stake in Prosperity Bancshares by 14.5% during the 2nd quarter. FMR LLC now owns 1,980,933 shares of the bank’s stock worth $127,255,000 after acquiring an additional 251,330 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Prosperity Bancshares by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,709,284 shares of the bank’s stock worth $109,809,000 after acquiring an additional 22,930 shares during the last quarter. Janus Henderson Group PLC bought a new position in Prosperity Bancshares during the 2nd quarter worth approximately $60,440,000. Finally, Bank of New York Mellon Corp boosted its stake in Prosperity Bancshares by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 817,453 shares of the bank’s stock worth $53,730,000 after acquiring an additional 8,304 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors.
Shares of Prosperity Bancshares, Inc. (PB) traded down $0.62 during mid-day trading on Thursday, reaching $68.33. 238,100 shares of the company’s stock traded hands, compared to its average volume of 463,996. The firm has a market cap of $4,790.92, a P/E ratio of 17.46, a P/E/G ratio of 1.75 and a beta of 1.37. Prosperity Bancshares, Inc. has a 52-week low of $55.84 and a 52-week high of $77.87.
Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, October 25th. The bank reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $184.96 million for 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 period last year, the company posted $0.99 EPS. analysts forecast that Prosperity Bancshares, Inc. will post 3.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.36 per share. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, December 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is 34.43%.
PB has been the topic of several recent analyst reports. ValuEngine lowered shares of Prosperity Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $73.00 price objective on shares of Prosperity Bancshares in a research note on Tuesday, August 29th. Royal Bank Of Canada reissued a “hold” rating and set a $71.00 price objective on shares of Prosperity Bancshares in a research note on Friday, September 8th. Zacks Investment Research raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Raymond James Financial reissued an “underperform” rating on shares of Prosperity Bancshares in a research note on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus 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.
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