Lasalle Street Capital Management buys $240,403 stake in Prosperity Bancshares (PB)

Prosperity Bancshares (PB) : Lasalle Street Capital Management scooped up 152 additional shares in Prosperity Bancshares during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 19, 2016. The investment management firm now holds a total of 4,507 shares of Prosperity Bancshares which is valued at $240,403.Prosperity Bancshares makes up approximately 0.22% of Lasalle Street Capital Management’s portfolio.

Other Hedge Funds, Including , Lasalle Street Capital Management boosted its stake in PB in the latest quarter, The investment management firm added 152 additional shares and now holds a total of 4,507 shares of Prosperity Bancshares which is valued at $240,403. Prosperity Bancshares makes up approx 0.22% of Lasalle Street Capital Management’s portfolio.Trust Department Mb Financial Bank N A boosted its stake in PB in the latest quarter, The investment management firm added 372 additional shares and now holds a total of 183,388 shares of Prosperity Bancshares which is valued at $9,754,408. Prosperity Bancshares makes up approx 1.06% of Trust Department Mb Financial Bank N A’s portfolio.Nn Investment Partners Holdings N.v. reduced its stake in PB by selling 350 shares or 2.41% in the most recent quarter. The Hedge Fund company now holds 14,180 shares of PB which is valued at $743,599. Prosperity Bancshares makes up approx 0.01% of Nn Investment Partners Holdings N.v.’s portfolio.Fisher Asset Management reduced its stake in PB by selling 621 shares or 0.08% in the most recent quarter. The Hedge Fund company now holds 762,411 shares of PB which is valued at $39,980,833. Prosperity Bancshares makes up approx 0.08% of Fisher Asset Management’s portfolio.

Prosperity Bancshares opened for trading at $53.4 and hit $53.71 on the upside on Wednesday, eventually ending the session at $53.34, with a gain of 0.11% or 0.06 points. The heightened volatility saw the trading volume jump to 2,68,267 shares. Company has a market cap of $3,711 M.

On the company’s financial health, Prosperity Bancshares reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.95.Analysts expectations of $ 183.71.During the same quarter in the previous year, the company posted $1.05 EPS.

Many Wall Street Analysts have commented on Prosperity Bancshares. Hovde Group Upgraded Prosperity Bancshares on Jun 29, 2016 to ” Outperform”, Price Target of the shares are set at $54.Prosperity Bancshares was Upgraded by Evercore ISI to ” Buy” on Jun 9, 2016. Compass Point Initiated Prosperity Bancshares on Jun 7, 2016 to “Neutral”, Price Target of the shares are set at $50.

Prosperity Bancshares Inc. is a financial holding company. The Company operates through its bank subsidiary Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. The Company’s additional products and services include trust services brokerage mortgage lending credit card and independent sales organization (ISO) sponsorship operations. Its traditional deposit products include certificates of deposit interest checking accounts savings accounts and overdraft protection. The Bank operates 245 full service banking locations including 62 in the Houston area 30 in the South Texas area 36 in the Dallas/Fort Worth area 22 in the East Texas area 30 in the Central Texas area 34 in the West Texas area 16 in the Bryan/College Station area six in the Central Oklahoma area and nine in the Tulsa Oklahoma area.

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