Salzhauer Michael Buys 1,002 Shares of Prosperity Bancshares, Inc. (PB)
Salzhauer Michael boosted its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 22.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,435 shares of the bank’s stock after purchasing an additional 1,002 shares during the quarter. Salzhauer Michael’s holdings in Prosperity Bancshares were worth $357,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of PB. Canada Pension Plan Investment Board purchased a new stake in Prosperity Bancshares during the 3rd quarter worth about $105,000. Huntington National Bank increased its holdings in Prosperity Bancshares by 9.2% during the 2nd quarter. Huntington National Bank now owns 1,689 shares of the bank’s stock worth $109,000 after purchasing an additional 143 shares during the period. Pacad Investment Ltd. purchased a new stake in Prosperity Bancshares during the 2nd quarter worth about $109,000. PNC Financial Services Group Inc. increased its holdings in Prosperity Bancshares by 8.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,424 shares of the bank’s stock worth $156,000 after purchasing an additional 185 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Prosperity Bancshares by 17.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,489 shares of the bank’s stock worth $160,000 after purchasing an additional 369 shares during the period. Institutional investors own 76.92% of the company’s stock.
A number of research analysts have recently commented on PB shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $73.00 price objective on shares of Prosperity Bancshares in a report on Tuesday, August 29th. ValuEngine downgraded Prosperity Bancshares from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Royal Bank Of Canada reiterated a “hold” rating and issued a $71.00 price objective on shares of Prosperity Bancshares in a report on Friday, September 8th. Zacks Investment Research upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Barclays started coverage on Prosperity Bancshares in a report on Thursday, August 3rd. They issued an “overweight” rating and a $72.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $71.05.
Prosperity Bancshares, Inc. (NYSE:PB) traded up $2.62 on Wednesday, hitting $67.86. The stock had a trading volume of 322,700 shares, compared to its average volume of 465,720. Prosperity Bancshares, Inc. has a fifty-two week low of $55.84 and a fifty-two week high of $77.87. The stock has a market cap of $4,530.00, a P/E ratio of 16.47, a P/E/G ratio of 1.65 and a beta of 1.36.
Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The business 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 quarter in the prior year, the business posted $0.99 EPS. research analysts expect that Prosperity Bancshares, Inc. will post 3.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.36 dividend. The ex-dividend date is Thursday, December 14th. This is a boost from Prosperity Bancshares’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.12%. Prosperity Bancshares’s dividend payout ratio is 34.52%.
In related news, Director Robert H. Steelhammer sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the director now directly owns 137,800 shares of the company’s stock, valued at approximately $8,268,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.93% of the stock is owned by corporate insiders.
Prosperity Bancshares Company 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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