Prosperity Bancshares, Inc. (NYSE:PB) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its holdings in Prosperity Bancshares, Inc. (NYSE:PB) by 4.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,000 shares of the bank’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Prosperity Bancshares were worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Marshall Wace North America L.P. purchased a new stake in shares of Prosperity Bancshares in the first quarter worth $35,000. Advisory Services Network LLC lifted its position in Prosperity Bancshares by 88.3% during the fourth quarter. Advisory Services Network LLC now owns 900 shares of the bank’s stock valued at $56,000 after purchasing an additional 422 shares during the last quarter. Advisor Group Inc. lifted its position in Prosperity Bancshares by 25.0% during the fourth quarter. Advisor Group Inc. now owns 3,269 shares of the bank’s stock valued at $204,000 after purchasing an additional 653 shares during the last quarter. World Asset Management Inc bought a new position in Prosperity Bancshares during the first quarter valued at $216,000. Finally, TrinityPoint Wealth LLC bought a new stake in shares of Prosperity Bancshares in the 1st quarter worth about $221,000. Institutional investors own 83.59% of the company’s stock.

In related news, Vice Chairman H E. Timanus, Jr. purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $64.39 per share, with a total value of $643,900.00. Following the acquisition, the insider now owns 148,837 shares in the company, valued at $9,583,614.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.86% of the stock is owned by insiders.

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein lowered shares of Prosperity Bancshares from a “mkt perform” rating to an “underperform” rating in a report on Tuesday, May 28th. Stephens set a $74.00 price target on shares of Prosperity Bancshares and gave the stock a “hold” rating in a research note on Monday, June 17th. Raymond James raised shares of Prosperity Bancshares from an “underperform” rating to a “market perform” rating and set a $62.71 price target on the stock in a research note on Tuesday, June 18th. Finally, FIG Partners reissued a “market-perform” rating on shares of Prosperity Bancshares in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $73.95.

PB stock opened at $63.49 on Friday. Prosperity Bancshares, Inc. has a 52 week low of $57.01 and a 52 week high of $76.25. The firm has a 50 day moving average of $67.13 and a 200 day moving average of $69.77. The stock has a market capitalization of $4.54 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.63 and a beta of 1.34.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $1.18 EPS for the quarter, meeting the consensus estimate of $1.18. The business had revenue of $184.80 million during the quarter, compared to analysts’ expectations of $186.94 million. Prosperity Bancshares had a net margin of 38.27% and a return on equity of 8.12%. During the same period in the previous year, the business posted $1.17 EPS. Sell-side analysts anticipate that Prosperity Bancshares, Inc. will post 4.75 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, September 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is 35.57%.

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

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