Swiss National Bank Acquires 3,300 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Swiss National Bank increased its stake in Prosperity Bancshares, Inc. (NYSE:PB) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,367 shares of the bank’s stock after acquiring an additional 3,300 shares during the quarter. Swiss National Bank owned 0.20% of Prosperity Bancshares worth $13,504,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Advisors Asset Management Inc. acquired a new position in shares of Prosperity Bancshares during the first quarter valued at about $124,000. BOKF NA raised its stake in Prosperity Bancshares by 3.8% during the 1st quarter. BOKF NA now owns 20,750 shares of the bank’s stock worth $1,336,000 after buying an additional 750 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Prosperity Bancshares by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,602 shares of the bank’s stock worth $3,329,000 after acquiring an additional 2,706 shares in the last quarter. Interval Partners LP grew its stake in Prosperity Bancshares by 2.5% in the first quarter. Interval Partners LP now owns 118,368 shares of the bank’s stock valued at $7,786,000 after acquiring an additional 2,833 shares during the period. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Prosperity Bancshares by 68.2% during the first quarter. Westwood Holdings Group Inc. now owns 6,726 shares of the bank’s stock valued at $442,000 after acquiring an additional 2,726 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

PB has been the topic of a number of recent research reports. StockNews.com cut Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday. Hovde Group lifted their price objective on shares of Prosperity Bancshares from $80.50 to $82.50 and gave the company an “outperform” rating in a report on Monday, August 26th. DA Davidson lowered shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $80.00 to $78.00 in a report on Tuesday, October 15th. Barclays lifted their price target on Prosperity Bancshares from $75.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Prosperity Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $78.96.

Prosperity Bancshares Stock Up 2.4 %

Shares of NYSE:PB opened at $84.30 on Friday. The firm has a market capitalization of $8.03 billion, a PE ratio of 17.90, a P/E/G ratio of 1.23 and a beta of 0.89. The company has a 50-day moving average price of $74.83 and a two-hundred day moving average price of $69.00. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $85.13.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. The company had revenue of $459.00 million during the quarter, compared to the consensus estimate of $299.83 million. During the same period last year, the firm earned $1.20 EPS. Analysts anticipate that Prosperity Bancshares, Inc. will post 5.05 earnings per share for the current fiscal year.

Prosperity Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.75%. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, December 13th. Prosperity Bancshares’s payout ratio is presently 47.56%.

Insider Buying and Selling

In related news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $81.44, for a total transaction of $40,720.00. Following the sale, the director now owns 113,815 shares of the company’s stock, valued at approximately $9,269,093.60. This represents a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.28% of the stock is currently owned by insiders.

Prosperity Bancshares Company Profile

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.