Prosperity Bancshares, Inc. (PB) Shares Bought by New England Research & Management Inc.

New England Research & Management Inc. grew its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 33,134 shares of the bank’s stock after purchasing an additional 2,100 shares during the quarter. Prosperity Bancshares comprises approximately 1.7% of New England Research & Management Inc.’s portfolio, making the stock its 7th biggest holding. New England Research & Management Inc.’s holdings in Prosperity Bancshares were worth $2,322,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PB. Janus Henderson Group PLC boosted its stake in shares of Prosperity Bancshares by 108.1% in the third quarter. Janus Henderson Group PLC now owns 1,957,916 shares of the bank’s stock valued at $128,701,000 after buying an additional 1,017,115 shares in the last quarter. Koch Industries Inc. purchased a new stake in shares of Prosperity Bancshares in the second quarter valued at approximately $333,000. Deprince Race & Zollo Inc. boosted its stake in shares of Prosperity Bancshares by 59.5% in the third quarter. Deprince Race & Zollo Inc. now owns 684,927 shares of the bank’s stock valued at $45,020,000 after buying an additional 255,384 shares in the last quarter. FMR LLC boosted its stake in shares of Prosperity Bancshares by 14.5% in the second quarter. FMR LLC now owns 1,980,933 shares of the bank’s stock valued at $127,255,000 after buying an additional 251,330 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Prosperity Bancshares by 3,568.8% in the third quarter. Envestnet Asset Management Inc. now owns 190,669 shares of the bank’s stock valued at $12,532,000 after buying an additional 185,472 shares in the last quarter. 76.80% of the stock is currently owned by institutional investors and hedge funds.

Prosperity Bancshares, Inc. (NYSE:PB) traded down $0.22 on Tuesday, reaching $69.49. The company’s stock had a trading volume of 299,200 shares, compared to its average volume of 410,300. The stock has a market capitalization of $4,830.00, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.67 and a beta of 1.37. Prosperity Bancshares, Inc. has a one year low of $55.84 and a one year high of $77.87.

Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, October 25th. The bank reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.02. The company had revenue of $184.96 million for the quarter, compared to the consensus estimate of $185.59 million. Prosperity Bancshares had a return on equity of 7.38% and a net margin of 34.79%. During the same period in the previous year, the business earned $0.99 earnings per share. research analysts predict that Prosperity Bancshares, Inc. will post 3.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.07%. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, December 14th. Prosperity Bancshares’s payout ratio is presently 36.55%.

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “hold” rating and issued a $79.00 price target on shares of Prosperity Bancshares in a research note on Friday, December 22nd. Zacks Investment Research upgraded Prosperity Bancshares from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Friday, December 29th. SunTrust Banks restated a “buy” rating and issued a $77.00 price target on shares of Prosperity Bancshares in a research note on Wednesday, November 29th. ValuEngine upgraded Prosperity Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. Finally, Barclays lifted their price target on Prosperity Bancshares from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Four analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $73.27.

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About Prosperity Bancshares

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.

Want to see what other hedge funds are holding PB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prosperity Bancshares, Inc. (NYSE:PB).

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

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