Menta Capital LLC lifted its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 161.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,800 shares of the bank’s stock after buying an additional 7,900 shares during the period. Menta Capital LLC’s holdings in Prosperity Bancshares were worth $797,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of PB. Atlanta Capital Management Co. L L C lifted its holdings in Prosperity Bancshares by 97.7% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 3,283,698 shares of the bank’s stock worth $204,574,000 after buying an additional 1,622,743 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Prosperity Bancshares by 5,839.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,642,789 shares of the bank’s stock worth $26,000 after purchasing an additional 1,615,129 shares during the period. Victory Capital Management Inc. raised its position in shares of Prosperity Bancshares by 64.6% during the 4th quarter. Victory Capital Management Inc. now owns 3,420,341 shares of the bank’s stock worth $213,087,000 after purchasing an additional 1,342,669 shares during the period. BlackRock Inc. raised its position in shares of Prosperity Bancshares by 3.8% during the 4th quarter. BlackRock Inc. now owns 6,053,707 shares of the bank’s stock worth $377,145,000 after purchasing an additional 222,229 shares during the period. Finally, Private Management Group Inc. raised its position in shares of Prosperity Bancshares by 71.2% during the 4th quarter. Private Management Group Inc. now owns 311,676 shares of the bank’s stock worth $19,417,000 after purchasing an additional 129,631 shares during the period. 84.02% of the stock is owned by institutional investors.
In other news, Vice Chairman H E. Timanus, Jr. acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 24th. The stock was acquired at an average cost of $57.65 per share, for a total transaction of $288,250.00. Following the completion of the acquisition, the insider now owns 147,447 shares in the company, valued at $8,500,319.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.05% of the stock is currently owned by company insiders.
Shares of Prosperity Bancshares stock opened at $72.98 on Friday. The firm has a market capitalization of $5.10 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.78 and a beta of 1.40. Prosperity Bancshares, Inc. has a 12 month low of $57.01 and a 12 month high of $77.94.
Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 30th. The bank reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.01. Prosperity Bancshares had a return on equity of 8.12% and a net margin of 38.17%. The business had revenue of $186.33 million during the quarter, compared to analysts’ expectations of $188.17 million. During the same quarter last year, the firm posted $0.99 earnings per share. Prosperity Bancshares’s revenue was up .6% compared to the same quarter last year. Research analysts expect that Prosperity Bancshares, Inc. will post 4.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.64 annualized dividend and a dividend yield of 2.25%. Prosperity Bancshares’s dividend payout ratio is 35.57%.
Several research firms have recently weighed in on PB. Zacks Investment Research lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, January 17th. Hovde Group lowered Prosperity Bancshares from an “outperform” rating to a “market perform” rating and set a $79.00 price objective for the company. in a research note on Friday, March 1st. Stephens reissued a “hold” rating and set a $73.00 price objective on shares of Prosperity Bancshares in a research note on Wednesday, December 19th. Barclays cut Prosperity Bancshares from an “overweight” rating to an “equal weight” rating and set a $71.00 target price for the company. in a research report on Thursday, January 10th. Finally, SunTrust Banks raised their target price on Prosperity Bancshares to $84.00 and gave the stock a “buy” rating in a research report on Thursday, January 31st. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $75.57.
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About Prosperity Bancshares
Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; and consumer durables and home equity loans.
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