GHP Investment Advisors Inc. Has $1.41 Million Holdings in Prosperity Bancshares, Inc. (PB)
GHP Investment Advisors Inc. grew its position in Prosperity Bancshares, Inc. (NYSE:PB) by 8.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,627 shares of the bank’s stock after purchasing an additional 1,628 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Prosperity Bancshares were worth $1,410,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Trexquant Investment LP purchased a new stake in shares of Prosperity Bancshares during the first quarter valued at $406,000. Victory Capital Management Inc. acquired a new position in Prosperity Bancshares during the first quarter valued at $2,424,000. Swiss National Bank lifted its position in Prosperity Bancshares by 2.2% during the first quarter. Swiss National Bank now owns 114,950 shares of the bank’s stock valued at $8,349,000 after purchasing an additional 2,500 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Prosperity Bancshares by 8.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 422,485 shares of the bank’s stock valued at $30,686,000 after purchasing an additional 31,209 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in Prosperity Bancshares during the first quarter valued at $1,045,000. 77.46% of the stock is currently owned by institutional investors and hedge funds.
In other Prosperity Bancshares news, Director Leah Henderson sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $76.09, for a total value of $76,090.00. Following the completion of the transaction, the director now owns 1,050 shares in the company, valued at $79,894.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Harrison Stafford II sold 1,900 shares of the company’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $72.97, for a total transaction of $138,643.00. Following the completion of the transaction, the director now owns 103,562 shares of the company’s stock, valued at approximately $7,556,919.14. The disclosure for this sale can be found here. Corporate insiders own 5.05% of the company’s stock.
Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, July 25th. The bank reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.02. The business had revenue of $190.17 million during the quarter, compared to the consensus estimate of $186.33 million. Prosperity Bancshares had a net margin of 35.75% and a return on equity of 7.59%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 earnings per share. equities analysts anticipate that Prosperity Bancshares, Inc. will post 4.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Saturday, September 15th will be given a $0.36 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.97%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 36.55%.
A number of research firms recently issued reports on PB. ValuEngine downgraded shares of Prosperity Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. DA Davidson decreased their target price on shares of Prosperity Bancshares to $70.00 and set a “neutral” rating for the company in a research report on Monday, June 18th. SunTrust Banks restated a “buy” rating and set a $77.00 target price on shares of Prosperity Bancshares in a research report on Friday, July 27th. Zacks Investment Research downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, July 9th. Finally, Stephens restated a “hold” rating and set a $75.00 target price on shares of Prosperity Bancshares in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $75.22.
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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