Trexquant Investment LP Purchases New Position in Prosperity Bancshares, Inc. (NYSE:PB)

Trexquant Investment LP purchased a new stake in Prosperity Bancshares, Inc. (NYSE:PB – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,144 shares of the bank’s stock, valued at approximately $1,076,000.

A number of other institutional investors have also recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its holdings in Prosperity Bancshares by 49.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 437 shares of the bank’s stock valued at $29,000 after purchasing an additional 144 shares during the period. Beacon Pointe Advisors LLC boosted its holdings in Prosperity Bancshares by 2.5% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 6,340 shares of the bank’s stock valued at $434,000 after purchasing an additional 156 shares during the period. CHICAGO TRUST Co NA boosted its holdings in Prosperity Bancshares by 3.8% in the 3rd quarter. CHICAGO TRUST Co NA now owns 4,560 shares of the bank’s stock valued at $304,000 after purchasing an additional 169 shares during the period. Diversified Trust Co boosted its holdings in Prosperity Bancshares by 1.2% in the 3rd quarter. Diversified Trust Co now owns 15,275 shares of the bank’s stock valued at $1,019,000 after purchasing an additional 175 shares during the period. Finally, Advisor Group Holdings Inc. boosted its holdings in Prosperity Bancshares by 3.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,935 shares of the bank’s stock valued at $411,000 after purchasing an additional 181 shares during the period. Institutional investors own 81.32% of the company’s stock.

Prosperity Bancshares Price Performance

PB stock opened at $62.24 on Tuesday. The company has a 50 day simple moving average of $73.83 and a 200 day simple moving average of $72.40. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 1.09 and a beta of 0.99. Prosperity Bancshares, Inc. has a 1 year low of $58.25 and a 1 year high of $78.76.

Prosperity Bancshares (NYSE:PB – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $346.32 million during the quarter, compared to analysts’ expectations of $296.52 million. Prosperity Bancshares had a net margin of 42.30% and a return on equity of 7.97%. During the same period in the prior year, the company earned $1.38 EPS. On average, equities research analysts anticipate that Prosperity Bancshares, Inc. will post 5.86 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.53%. The ex-dividend date is Tuesday, March 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 38.39%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Raymond James raised shares of Prosperity Bancshares from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a report on Tuesday, February 21st. StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, January 10th. Morgan Stanley assumed coverage on shares of Prosperity Bancshares in a report on Monday, December 5th. They set an “equal weight” rating and a $69.00 price target for the company. Janney Montgomery Scott raised shares of Prosperity Bancshares from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a report on Monday. Finally, DA Davidson raised shares of Prosperity Bancshares from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $76.00.

About Prosperity Bancshares

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Prosperity Bancshares, Inc is a holding company, which engages in the provision of financial products and solutions. It offers retail and commercial banking services such as deposits, online Internet banking, loan, investments, trust, and credit card to small and medium-sized businesses and consumers.