LS Investment Advisors LLC Sells 143 Shares of Prosperity Bancshares, Inc. (PB)

LS Investment Advisors LLC cut its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 3.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,572 shares of the bank’s stock after selling 143 shares during the period. LS Investment Advisors LLC’s holdings in Prosperity Bancshares were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PB. Oregon Public Employees Retirement Fund boosted its position in shares of Prosperity Bancshares by 5,839.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,642,789 shares of the bank’s stock worth $26,000 after acquiring an additional 1,615,129 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in shares of Prosperity Bancshares by 62.9% during the fourth quarter. First Mercantile Trust Co. now owns 570 shares of the bank’s stock worth $35,000 after purchasing an additional 220 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Prosperity Bancshares by 513.1% during the fourth quarter. Captrust Financial Advisors now owns 607 shares of the bank’s stock worth $38,000 after purchasing an additional 508 shares during the period. Lake Point Wealth Management acquired a new position in shares of Prosperity Bancshares during the fourth quarter worth $56,000. Finally, Advisory Services Network LLC lifted its holdings in shares of Prosperity Bancshares by 88.3% during the fourth quarter. Advisory Services Network LLC now owns 900 shares of the bank’s stock worth $56,000 after purchasing an additional 422 shares during the period. 84.27% of the stock is currently owned by institutional investors.

PB opened at $74.36 on Friday. Prosperity Bancshares, Inc. has a 1-year low of $57.01 and a 1-year high of $76.92. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 1.80 and a beta of 1.39.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.01. Prosperity Bancshares had a net margin of 38.42% and a return on equity of 8.20%. The firm had revenue of $183.06 million during the quarter, compared to the consensus estimate of $185.27 million. During the same period in the previous year, the firm posted $1.07 earnings per share. On average, equities research analysts predict that Prosperity Bancshares, Inc. will post 4.8 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, June 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 35.57%.

A number of equities analysts recently weighed in on the stock. Stephens reissued a “hold” rating and set a $76.00 target price on shares of Prosperity Bancshares in a research note on Wednesday, February 13th. Hovde Group downgraded shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating and set a $79.00 target price for the company. in a research note on Friday, March 1st. FIG Partners reissued a “market-perform” rating on shares of Prosperity Bancshares in a research note on Wednesday, April 24th. SunTrust Banks lifted their target price on shares of Prosperity Bancshares to $84.00 and gave the stock a “buy” rating in a research note on Thursday, January 31st. Finally, Zacks Investment Research raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, February 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $75.57.

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

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