Prosperity Bancshares, Inc. (NYSE:PB) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 47.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 701 shares of the bank’s stock after purchasing an additional 227 shares during the period. GAMMA Investing LLC’s holdings in Prosperity Bancshares were worth $51,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Handelsbanken Fonder AB boosted its stake in Prosperity Bancshares by 11.7% during the third quarter. Handelsbanken Fonder AB now owns 20,931 shares of the bank’s stock worth $1,508,000 after buying an additional 2,200 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Prosperity Bancshares by 296.4% during the 3rd quarter. SG Americas Securities LLC now owns 13,810 shares of the bank’s stock worth $995,000 after acquiring an additional 10,326 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Prosperity Bancshares during the 2nd quarter valued at about $540,000. Quarry LP grew its holdings in shares of Prosperity Bancshares by 533.3% in the second quarter. Quarry LP now owns 494 shares of the bank’s stock valued at $30,000 after purchasing an additional 416 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Prosperity Bancshares by 135.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,480 shares of the bank’s stock worth $641,000 after purchasing an additional 6,022 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. DA Davidson lowered Prosperity Bancshares from a “buy” rating to a “neutral” rating and decreased their price target for the company from $80.00 to $78.00 in a research note on Tuesday. Wedbush upgraded Prosperity Bancshares from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $75.00 to $90.00 in a research note on Tuesday, September 24th. Raymond James cut Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price objective for the company. in a research note on Tuesday, September 17th. Royal Bank of Canada increased their target price on Prosperity Bancshares from $70.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley upgraded shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $75.00 to $86.00 in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Prosperity Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.27.

Prosperity Bancshares Stock Up 1.7 %

PB opened at $74.14 on Thursday. Prosperity Bancshares, Inc. has a 52 week low of $49.60 and a 52 week high of $74.91. The business’s 50 day moving average is $71.71 and its two-hundred day moving average is $66.14. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89.

Prosperity Bancshares (NYSE:PB) last released its quarterly 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 firm 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 firm earned $1.21 EPS. Equities analysts expect that Prosperity Bancshares, Inc. will post 5.03 EPS for the current fiscal year.

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.