Amalgamated Bank Decreases Stock Position in Prosperity Bancshares, Inc. (NYSE:PB)

Amalgamated Bank decreased its position in Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 23.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,116 shares of the bank's stock after selling 13,549 shares during the period. Amalgamated Bank's holdings in Prosperity Bancshares were worth $3,252,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PB. Innealta Capital LLC boosted its position in Prosperity Bancshares by 17.9% during the third quarter. Innealta Capital LLC now owns 3,486 shares of the bank's stock worth $251,000 after purchasing an additional 529 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Prosperity Bancshares by 112.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 24,322 shares of the bank's stock valued at $1,753,000 after buying an additional 12,857 shares in the last quarter. US Bancorp DE boosted its holdings in Prosperity Bancshares by 3.4% in the 3rd quarter. US Bancorp DE now owns 4,720 shares of the bank's stock worth $340,000 after buying an additional 153 shares during the period. Nisa Investment Advisors LLC grew its stake in Prosperity Bancshares by 16.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 14,804 shares of the bank's stock valued at $1,075,000 after buying an additional 2,100 shares in the last quarter. Finally, First Financial Bankshares Inc raised its holdings in Prosperity Bancshares by 16.8% during the 3rd quarter. First Financial Bankshares Inc now owns 14,554 shares of the bank's stock valued at $1,049,000 after acquiring an additional 2,096 shares during the period. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PB has been the subject of a number of analyst reports. Barclays raised their price target on Prosperity Bancshares from $75.00 to $76.00 and gave the stock an "equal weight" rating in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $77.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. StockNews.com downgraded shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, August 28th. DA Davidson cut shares of Prosperity Bancshares from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $80.00 to $78.00 in a research note on Tuesday, October 15th. Finally, Raymond James lowered shares of Prosperity Bancshares from a "strong-buy" rating to an "outperform" rating and set a $80.00 target price on the stock. in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $78.96.

Prosperity Bancshares Trading Up 1.6 %

Shares of NYSE:PB traded up $1.26 during trading on Friday, reaching $80.09. The company had a trading volume of 486,734 shares, compared to its average volume of 632,131. The company has a fifty day moving average of $72.83 and a two-hundred day moving average of $67.71. The stock has a market capitalization of $7.63 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.89. Prosperity Bancshares, Inc. has a 12 month low of $54.38 and a 12 month high of $81.11.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its earnings results on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. The business had revenue of $459.00 million for the quarter, compared to analysts' expectations of $299.83 million. During the same quarter in the prior year, the firm earned $1.20 earnings per share. As a group, equities research analysts predict that Prosperity Bancshares, Inc. will post 5.05 earnings per share for the current year.

Prosperity Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.90%. This is a boost from Prosperity Bancshares's previous quarterly dividend of $0.56. The ex-dividend date is Friday, December 13th. Prosperity Bancshares's dividend payout ratio (DPR) is currently 47.56%.

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.