Prosperity Bancshares, Inc. (PB) Stake Raised by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in Prosperity Bancshares, Inc. (NYSE:PB) by 64.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,420,341 shares of the bank’s stock after purchasing an additional 1,342,669 shares during the period. Prosperity Bancshares comprises approximately 0.5% of Victory Capital Management Inc.’s holdings, making the stock its 20th biggest holding. Victory Capital Management Inc. owned about 4.90% of Prosperity Bancshares worth $213,087,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. First Mercantile Trust Co. lifted its position in Prosperity Bancshares by 62.9% during the 4th quarter. First Mercantile Trust Co. now owns 570 shares of the bank’s stock worth $35,000 after buying an additional 220 shares in the last quarter. Lavaca Capital LLC bought a new stake in shares of Prosperity Bancshares in the 4th quarter valued at about $104,000. Huntington National Bank increased its stake in shares of Prosperity Bancshares by 17.8% in the 4th quarter. Huntington National Bank now owns 1,728 shares of the bank’s stock valued at $108,000 after acquiring an additional 261 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Prosperity Bancshares in the 3rd quarter valued at about $200,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Prosperity Bancshares in the 3rd quarter valued at about $222,000. Institutional investors own 84.51% of the company’s stock.

In other Prosperity Bancshares news, Vice Chairman H E. Timanus, Jr. acquired 5,000 shares of the firm’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 transaction, the insider now owns 147,447 shares of the company’s stock, valued at $8,500,319.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.05% of the stock is currently owned by insiders.

Shares of PB traded up $0.84 on Tuesday, hitting $74.09. The company’s stock had a trading volume of 3,428 shares, compared to its average volume of 506,589. Prosperity Bancshares, Inc. has a fifty-two week low of $57.01 and a fifty-two week high of $79.20. The firm has a market capitalization of $5.10 billion, a PE ratio of 16.07, a P/E/G ratio of 1.78 and a beta of 1.37.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, January 30th. The bank reported $1.19 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $188.17 million. During the same period in the previous year, the firm earned $0.99 EPS. Prosperity Bancshares’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts anticipate that Prosperity Bancshares, Inc. will post 4.82 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a $0.41 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.64 annualized dividend and a dividend yield of 2.21%. Prosperity Bancshares’s dividend payout ratio is presently 35.57%.

PB has been the subject of a number of recent analyst reports. SunTrust Banks lowered their price target on Prosperity Bancshares to $68.00 and set a “buy” rating for the company in a research note on Thursday, October 25th. They noted that the move was a valuation call. Barclays cut Prosperity Bancshares from an “overweight” rating to an “equal weight” rating and set a $71.00 price target for the company. in a research note on Thursday, January 10th. Stephens reaffirmed a “hold” rating and issued a $73.00 price target on shares of Prosperity Bancshares in a research note on Wednesday, January 30th. Zacks Investment Research raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Finally, Hovde Group raised Prosperity Bancshares from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Wednesday, January 2nd. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Prosperity Bancshares currently has a consensus rating of “Hold” and an average target price of $73.86.

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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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Institutional Ownership by Quarter for Prosperity Bancshares (NYSE:PB)

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