Arvest Bank Trust Division acquired a new stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,000 shares of the bank’s stock, valued at approximately $210,000.

Several other hedge funds have also recently made changes to their positions in PB. Janus Henderson Group PLC raised its position in shares of Prosperity Bancshares by 108.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,957,916 shares of the bank’s stock valued at $128,701,000 after purchasing an additional 1,017,115 shares during the period. Koch Industries Inc. bought a new stake in shares of Prosperity Bancshares during the 2nd quarter valued at $333,000. Deprince Race & Zollo Inc. raised its position in shares of Prosperity Bancshares by 59.5% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 684,927 shares of the bank’s stock valued at $45,020,000 after purchasing an additional 255,384 shares during the period. FMR LLC raised its position in shares of Prosperity Bancshares by 14.5% during the 2nd quarter. FMR LLC now owns 1,980,933 shares of the bank’s stock valued at $127,255,000 after purchasing an additional 251,330 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Prosperity Bancshares by 3,568.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 190,669 shares of the bank’s stock valued at $12,532,000 after purchasing an additional 185,472 shares during the period. Hedge funds and other institutional investors own 76.80% of the company’s stock.

Shares of Prosperity Bancshares, Inc. (PB) traded up $1.39 during midday trading on Monday, reaching $75.65. 447,100 shares of the company’s stock were exchanged, compared to its average volume of 478,977. The company has a market cap of $5,220.00, a P/E ratio of 19.20, a P/E/G ratio of 1.62 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 announced its quarterly earnings results on Wednesday, October 25th. The bank reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 34.79% and a return on equity of 7.38%. During the same period in the previous year, the firm posted $0.99 EPS. analysts forecast that Prosperity Bancshares, Inc. will post 3.95 EPS for the current year.

Prosperity Bancshares announced that its board has authorized a share repurchase program on Friday, January 19th that allows the company to repurchase 3,470,000 outstanding shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were issued a $0.36 dividend. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, December 14th. Prosperity Bancshares’s payout ratio is currently 36.55%.

Several analysts have recently commented on the stock. ValuEngine downgraded shares of Prosperity Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. SunTrust Banks restated a “buy” rating and set a $73.00 price objective on shares of Prosperity Bancshares in a research report on Monday, October 2nd. Piper Jaffray Companies restated a “hold” rating and set a $73.00 price objective on shares of Prosperity Bancshares in a research report on Tuesday, January 9th. Zacks Investment Research downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Finally, Barclays lifted their price target on shares of Prosperity Bancshares from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Prosperity Bancshares has a consensus rating of “Hold” and an average target price of $73.27.

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

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