Vanguard Personalized Indexing Management LLC Acquires 717 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 12.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,655 shares of the bank’s stock after acquiring an additional 717 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Prosperity Bancshares were worth $407,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PB. GAMMA Investing LLC boosted its stake in shares of Prosperity Bancshares by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock valued at $29,000 after purchasing an additional 177 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Prosperity Bancshares by 3,147.1% in the 2nd quarter. Quest Partners LLC now owns 552 shares of the bank’s stock valued at $34,000 after purchasing an additional 535 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Prosperity Bancshares by 835.9% in the 4th quarter. Parallel Advisors LLC now owns 730 shares of the bank’s stock valued at $49,000 after purchasing an additional 652 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Prosperity Bancshares in the 1st quarter valued at $50,000. Finally, Abich Financial Wealth Management LLC boosted its stake in shares of Prosperity Bancshares by 12,433.3% in the 1st quarter. Abich Financial Wealth Management LLC now owns 752 shares of the bank’s stock valued at $49,000 after purchasing an additional 746 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PB. Barclays upped their price objective on shares of Prosperity Bancshares from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday. Wedbush raised shares of Prosperity Bancshares from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $75.00 to $90.00 in a research note on Tuesday. Morgan Stanley raised shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $75.00 to $86.00 in a research note on Monday, August 5th. Hovde Group increased their target price on shares of Prosperity Bancshares from $80.50 to $82.50 and gave the stock an “outperform” rating in a research note on Monday, August 26th. Finally, StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Prosperity Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $77.58.

Prosperity Bancshares Trading Down 0.9 %

PB opened at $70.80 on Friday. The company’s fifty day moving average price is $71.68 and its two-hundred day moving average price is $65.39. Prosperity Bancshares, Inc. has a 1-year low of $49.60 and a 1-year high of $74.87. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.49 and a beta of 0.90.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, July 24th. The bank reported $1.22 EPS for the quarter, beating the consensus estimate of $1.20 by $0.02. The company had revenue of $458.95 million during the quarter, compared to the consensus estimate of $290.06 million. Prosperity Bancshares had a net margin of 25.10% and a return on equity of 6.32%. During the same quarter in the prior year, the company posted $1.21 earnings per share. As a group, equities analysts forecast that Prosperity Bancshares, Inc. will post 5.06 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.56 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.24 annualized dividend and a dividend yield of 3.16%. Prosperity Bancshares’s dividend payout ratio is currently 51.61%.

Prosperity Bancshares 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.