GHP Investment Advisors Inc. raised its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,620 shares of the bank’s stock after acquiring an additional 777 shares during the period. GHP Investment Advisors Inc.’s holdings in Prosperity Bancshares were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. California State Teachers Retirement System grew its stake in Prosperity Bancshares by 0.6% in the fourth quarter. California State Teachers Retirement System now owns 111,561 shares of the bank’s stock valued at $7,817,000 after acquiring an additional 677 shares during the period. Amalgamated Bank grew its stake in Prosperity Bancshares by 5.9% in the fourth quarter. Amalgamated Bank now owns 13,428 shares of the bank’s stock valued at $941,000 after acquiring an additional 743 shares during the period. TD Asset Management Inc. grew its stake in Prosperity Bancshares by 3.9% in the third quarter. TD Asset Management Inc. now owns 24,100 shares of the bank’s stock valued at $1,584,000 after acquiring an additional 900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Prosperity Bancshares by 39.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,469 shares of the bank’s stock valued at $243,000 after acquiring an additional 980 shares during the period. Finally, Salzhauer Michael grew its stake in Prosperity Bancshares by 22.6% in the third quarter. Salzhauer Michael now owns 5,435 shares of the bank’s stock valued at $357,000 after acquiring an additional 1,002 shares during the period. 77.78% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO David Hollaway sold 1,800 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $75.60, for a total transaction of $136,080.00. Following the sale, the chief financial officer now owns 168,684 shares in the company, valued at $12,752,510.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Epps sold 4,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $75.15, for a total value of $300,600.00. The disclosure for this sale can be found here. Insiders have sold 10,800 shares of company stock worth $818,280 in the last quarter. 4.93% of the stock is currently owned by corporate insiders.
Prosperity Bancshares, Inc. (NYSE PB) opened at $77.81 on Wednesday. The firm has a market capitalization of $5,495.75, a PE ratio of 19.80, a PEG ratio of 1.65 and a beta of 1.32. Prosperity Bancshares, Inc. has a 52-week low of $55.84 and a 52-week high of $79.20.
Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.01). Prosperity Bancshares had a return on equity of 7.28% and a net margin of 34.28%. The firm had revenue of $185.27 million for the quarter, compared to analyst estimates of $185.43 million. During the same period in the prior year, the company earned $0.99 earnings per share. equities research analysts predict that Prosperity Bancshares, Inc. will post 4.78 EPS for the current fiscal year.
Prosperity Bancshares announced that its board has initiated a stock repurchase program on Friday, January 19th that authorizes the company to buyback 3,470,000 outstanding shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 16th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, March 15th. This represents a $1.44 annualized dividend and a yield of 1.85%. Prosperity Bancshares’s payout ratio is presently 36.64%.
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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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