GHP Investment Advisors Inc. Sells 354 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

GHP Investment Advisors Inc. cut its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,739 shares of the bank’s stock after selling 354 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Prosperity Bancshares were worth $1,085,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PB. GAMMA Investing LLC grew its position in shares of Prosperity Bancshares by 59.6% during the second quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock worth $29,000 after purchasing an additional 177 shares in the last quarter. Quest Partners LLC raised its stake in Prosperity Bancshares by 3,147.1% during the second quarter. Quest Partners LLC now owns 552 shares of the bank’s stock valued at $34,000 after purchasing an additional 535 shares in the last quarter. Parallel Advisors LLC lifted its position in Prosperity Bancshares by 835.9% during the fourth 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. purchased a new position in Prosperity Bancshares in the first quarter worth about $50,000. Finally, Abich Financial Wealth Management LLC raised its position in Prosperity Bancshares by 12,433.3% during the first 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 period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Prosperity Bancshares Trading Up 2.3 %

Shares of Prosperity Bancshares stock opened at $72.52 on Friday. The stock’s fifty day moving average price is $70.18 and its 200-day moving average price is $64.74. The firm has a market cap of $6.96 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.48 and a beta of 0.90. Prosperity Bancshares, Inc. has a 12 month low of $49.60 and a 12 month high of $74.67.

Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, July 24th. The bank reported $1.22 EPS for the quarter, beating 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 business had revenue of $458.95 million for the quarter, compared to the consensus estimate of $290.06 million. During the same quarter last year, the firm posted $1.21 EPS. Analysts forecast that Prosperity Bancshares, Inc. will post 5.07 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Friday, September 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is 51.61%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Stephens upgraded Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 26th. Royal Bank of Canada boosted their price objective on shares of Prosperity Bancshares from $70.00 to $74.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Wedbush raised their target price on shares of Prosperity Bancshares from $63.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Morgan Stanley upgraded shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $75.00 to $86.00 in a report on Monday, August 5th. Finally, Piper Sandler raised their price objective on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $76.04.

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.