Deprince Race & Zollo Inc. Grows Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

Deprince Race & Zollo Inc. raised its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 706,174 shares of the bank’s stock after acquiring an additional 16,973 shares during the quarter. Deprince Race & Zollo Inc. owned approximately 0.74% of Prosperity Bancshares worth $43,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado lifted its position in shares of Prosperity Bancshares by 359.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 247,936 shares of the bank’s stock valued at $16,793,000 after acquiring an additional 193,953 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Prosperity Bancshares by 11.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 884,734 shares of the bank’s stock valued at $59,923,000 after purchasing an additional 89,617 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Prosperity Bancshares during the 1st quarter worth about $2,343,000. Amica Mutual Insurance Co. grew its holdings in shares of Prosperity Bancshares by 41.9% during the second quarter. Amica Mutual Insurance Co. now owns 157,770 shares of the bank’s stock worth $9,646,000 after buying an additional 46,593 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of Prosperity Bancshares by 14.8% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 784,910 shares of the bank’s stock worth $51,631,000 after buying an additional 101,230 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Prosperity Bancshares Stock Down 0.5 %

Shares of PB stock opened at $70.99 on Thursday. Prosperity Bancshares, Inc. has a fifty-two week low of $49.60 and a fifty-two week high of $74.87. The firm’s 50 day moving average price is $71.55 and its two-hundred day moving average price is $65.29. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 1.49 and a beta of 0.90.

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

Prosperity Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, September 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 51.61%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PB. StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Compass Point upped their target price on Prosperity Bancshares from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James downgraded Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 target price on the stock. in a research report on Tuesday, September 17th. Wedbush upgraded Prosperity Bancshares from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $75.00 to $90.00 in a report on Tuesday. Finally, Stephens upgraded shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.04.

About Prosperity Bancshares

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.