First Mercantile Trust Co. decreased its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 24.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 430 shares of the bank’s stock after selling 140 shares during the period. First Mercantile Trust Co.’s holdings in Prosperity Bancshares were worth $30,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Louisiana State Employees Retirement System increased its stake in Prosperity Bancshares by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the bank’s stock worth $1,229,000 after acquiring an additional 200 shares during the last quarter. Huntington National Bank increased its stake in Prosperity Bancshares by 17.8% in the 4th quarter. Huntington National Bank now owns 1,728 shares of the bank’s stock worth $108,000 after acquiring an additional 261 shares during the last quarter. Olstein Capital Management L.P. increased its stake in Prosperity Bancshares by 0.3% in the 4th quarter. Olstein Capital Management L.P. now owns 119,250 shares of the bank’s stock worth $7,429,000 after acquiring an additional 300 shares during the last quarter. Stephens Inc. AR increased its stake in Prosperity Bancshares by 8.9% in the 1st quarter. Stephens Inc. AR now owns 3,728 shares of the bank’s stock worth $257,000 after acquiring an additional 305 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in Prosperity Bancshares by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 86,376 shares of the bank’s stock worth $5,965,000 after acquiring an additional 353 shares during the last quarter. 81.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Prosperity Bancshares stock opened at $68.59 on Friday. The stock has a market cap of $4.79 billion, a PE ratio of 14.88, a PEG ratio of 1.72 and a beta of 1.39. Prosperity Bancshares, Inc. has a 12 month low of $57.01 and a 12 month high of $76.25.
Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $1.18 EPS for the quarter, beating the consensus estimate of $1.17 by $0.01. The firm had revenue of $183.06 million for the quarter, compared to analyst estimates of $185.27 million. Prosperity Bancshares had a return on equity of 8.20% and a net margin of 38.42%. During the same period in the prior year, the company earned $1.07 EPS. On average, sell-side analysts anticipate that Prosperity Bancshares, Inc. will post 4.8 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 35.57%.
A number of equities analysts have weighed in on the company. FIG Partners restated a “market-perform” rating on shares of Prosperity Bancshares in a research note on Wednesday, April 24th. Zacks Investment Research lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Stephens restated a “hold” rating and issued a $76.00 target price on shares of Prosperity Bancshares in a research note on Wednesday, April 24th. Hovde Group lowered Prosperity Bancshares from an “outperform” rating to a “market perform” rating and set a $79.00 target price on the stock. in a research note on Friday, March 1st. Finally, SunTrust Banks upped their target price on Prosperity Bancshares to $84.00 and gave the stock a “buy” rating in a research note on Thursday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Prosperity Bancshares presently has a consensus rating of “Hold” and an average target price of $75.50.
Prosperity Bancshares Profile
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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