Albert D Mason Inc. Sells 263 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Albert D Mason Inc. lowered its position in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 1.4% in the third quarter, HoldingsChannel reports. The fund owned 19,186 shares of the bank’s stock after selling 263 shares during the period. Albert D Mason Inc.’s holdings in Prosperity Bancshares were worth $1,383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Prosperity Bancshares by 59.6% during the second quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock worth $29,000 after acquiring an additional 177 shares during the last quarter. Quarry LP increased its holdings in Prosperity Bancshares by 533.3% in the second quarter. Quarry LP now owns 494 shares of the bank’s stock valued at $30,000 after purchasing an additional 416 shares during the last quarter. Quest Partners LLC increased its holdings in Prosperity Bancshares by 3,147.1% in the second quarter. Quest Partners LLC now owns 552 shares of the bank’s stock valued at $34,000 after purchasing an additional 535 shares during the last quarter. Abich Financial Wealth Management LLC increased its holdings in Prosperity Bancshares by 12,433.3% in the first quarter. Abich Financial Wealth Management LLC now owns 752 shares of the bank’s stock valued at $49,000 after purchasing an additional 746 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Prosperity Bancshares in the second quarter valued at about $46,000. Institutional investors own 80.69% of the company’s stock.

Prosperity Bancshares Price Performance

PB stock opened at $72.58 on Wednesday. The stock has a market capitalization of $6.91 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.53 and a beta of 0.89. The business has a 50-day moving average of $72.06 and a 200-day moving average of $66.49. Prosperity Bancshares, Inc. has a fifty-two week low of $49.60 and a fifty-two week high of $74.96.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.02. The company had revenue of $458.95 million during the quarter, compared to analysts’ expectations of $290.06 million. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. During the same period in the prior year, the firm earned $1.21 earnings per share. Equities analysts expect that Prosperity Bancshares, Inc. will post 5.03 EPS for the current year.

Prosperity Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Prosperity Bancshares’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 3.20%. Prosperity Bancshares’s dividend payout ratio is 49.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PB shares. Royal Bank of Canada upped their price objective on Prosperity Bancshares from $70.00 to $74.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. StockNews.com downgraded Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Wedbush upgraded Prosperity Bancshares from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $75.00 to $90.00 in a report on Tuesday, September 24th. Raymond James downgraded Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price target for the company. in a report on Tuesday, September 17th. Finally, Barclays increased their price target on Prosperity Bancshares from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Prosperity Bancshares has an average rating of “Moderate Buy” and an average target price of $77.27.

About Prosperity Bancshares

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, 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; term loans and lines of credit; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.