Huntington National Bank continued to hold its position in shares of Prosperity Bancshares Inc. (NYSE:PB) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,906 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Prosperity Bancshares were worth $153,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in PB. LS Investment Advisors LLC increased its position in Prosperity Bancshares by 74.6% in the second quarter. LS Investment Advisors LLC now owns 3,926 shares of the company’s stock valued at $200,000 after buying an additional 1,677 shares during the period. Fox Run Management L.L.C. purchased a new stake in Prosperity Bancshares during the second quarter valued at about $214,000. LaSalle Street Capital Management LLC boosted its stake in Prosperity Bancshares by 3.5% in the second quarter. LaSalle Street Capital Management LLC now owns 4,507 shares of the company’s stock valued at $230,000 after buying an additional 152 shares in the last quarter. Sigma Planning Corp boosted its stake in Prosperity Bancshares by 0.7% in the second quarter. Sigma Planning Corp now owns 5,219 shares of the company’s stock valued at $266,000 after buying an additional 35 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its stake in Prosperity Bancshares by 5.1% in the second quarter. Capstone Asset Management Co. now owns 6,443 shares of the company’s stock valued at $329,000 after buying an additional 310 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.
Shares of Prosperity Bancshares Inc. (NYSE:PB) traded down 0.02% on Thursday, reaching $55.30. 220,899 shares of the company’s stock were exchanged. The company has a market capitalization of $3.84 billion, a P/E ratio of 13.93 and a beta of 1.29. Prosperity Bancshares Inc. has a 12 month low of $33.57 and a 12 month high of $57.04. The firm’s 50 day moving average price is $54.25 and its 200-day moving average price is $51.43.
Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by $0.01. Prosperity Bancshares had a return on equity of 7.99% and a net margin of 34.93%. During the same period last year, the company posted $1.03 EPS. On average, equities analysts anticipate that Prosperity Bancshares Inc. will post $3.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 16th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, September 14th. This represents a $1.20 annualized dividend and a yield of 2.17%. Prosperity Bancshares’s payout ratio is presently 30.15%.
Several equities research analysts have issued reports on the stock. SunTrust Banks Inc. assumed coverage on shares of Prosperity Bancshares in a research note on Thursday. They set a “neutral” rating on the stock. Wedbush assumed coverage on shares of Prosperity Bancshares in a research note on Thursday. They set a “neutral” rating and a $54.00 price target on the stock. Zacks Investment Research raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Monday. Evercore ISI raised shares of Prosperity Bancshares from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Thursday, June 9th. Finally, Hovde Group raised shares of Prosperity Bancshares from a “market perform” rating to an “outperform” rating and set a $54.00 price target on the stock in a research note on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $50.85.
In other Prosperity Bancshares news, Director Perry Mueller, Jr. sold 13,536 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $54.00, for a total transaction of $730,944.00. Following the sale, the director now owns 6,723 shares in the company, valued at approximately $363,042. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert H. Steelhammer sold 2,900 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $54.00, for a total value of $156,600.00. Following the sale, the director now owns 160,800 shares in the company, valued at approximately $8,683,200. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
About Prosperity Bancshares
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.
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