GHP Investment Advisors Inc. Purchases 228 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

GHP Investment Advisors Inc. boosted its position in Prosperity Bancshares, Inc. (NYSE:PB) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,967 shares of the bank’s stock after acquiring an additional 228 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Prosperity Bancshares were worth $1,295,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in 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 acquiring an additional 177 shares in the last quarter. Quarry LP increased its position in Prosperity Bancshares by 533.3% during the 2nd quarter. Quarry LP now owns 494 shares of the bank’s stock worth $30,000 after purchasing an additional 416 shares in the last quarter. Quest Partners LLC lifted its stake in 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. Abich Financial Wealth Management LLC boosted its position in Prosperity Bancshares by 12,433.3% in the first quarter. Abich Financial Wealth Management LLC now owns 752 shares of the bank’s stock valued at $49,000 after buying an additional 746 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Prosperity Bancshares during the second quarter worth $46,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Prosperity Bancshares Trading Down 1.7 %

Shares of PB opened at $72.26 on Monday. The firm’s fifty day simple moving average is $72.21 and its two-hundred day simple moving average is $66.70. Prosperity Bancshares, Inc. has a 12 month low of $52.49 and a 12 month high of $75.28. The stock has a market capitalization of $6.93 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. The business had revenue of $459.00 million during the quarter, compared to analysts’ expectations of $299.83 million. During the same quarter last year, the firm posted $1.20 earnings per share. As a group, research analysts predict that Prosperity Bancshares, Inc. will post 5.03 EPS for the current fiscal year.

Prosperity Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, December 13th. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.56. Prosperity Bancshares’s payout ratio is presently 53.46%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PB shares. Raymond James downgraded Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price objective on the stock. in a report on Tuesday, September 17th. StockNews.com cut Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $77.00 price objective on shares of Prosperity Bancshares in a report on Thursday. Morgan Stanley raised shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $75.00 to $86.00 in a report on Monday, August 5th. Finally, Compass Point raised their price target on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.96.

Prosperity Bancshares Company 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.