Mariner Wealth Advisors buys $5,929,655 stake in Prosperity Bancshares (PB)

Prosperity Bancshares (PB) : Mariner Wealth Advisors scooped up 9 additional shares in Prosperity Bancshares during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 114,627 shares of Prosperity Bancshares which is valued at $5,929,655.Prosperity Bancshares makes up approximately 0.31% of Mariner Wealth Advisors’s portfolio.

Other Hedge Funds, Including , Liberty Mutual Group Asset Management boosted its stake in PB in the latest quarter, The investment management firm added 2,418 additional shares and now holds a total of 28,514 shares of Prosperity Bancshares which is valued at $1,475,029. Prosperity Bancshares makes up approx 0.05% of Liberty Mutual Group Asset Management’s portfolio. Cipher Capital Lp sold out all of its stake in PB during the most recent quarter. The investment firm sold 4,503 shares of PB which is valued $232,940.King Luther Capital Management Corp reduced its stake in PB by selling 1,227 shares or 3.14% in the most recent quarter. The Hedge Fund company now holds 37,814 shares of PB which is valued at $1,956,118. Prosperity Bancshares makes up approx 0.02% of King Luther Capital Management Corp’s portfolio.Miller Howard Investments Inc Ny reduced its stake in PB by selling 3,947 shares or 29.86% in the most recent quarter. The Hedge Fund company now holds 9,271 shares of PB which is valued at $498,316. Prosperity Bancshares makes up approx 0.01% of Miller Howard Investments Inc Ny’s portfolio.

Prosperity Bancshares opened for trading at $54.5 and hit $55.54 on the upside on Monday, eventually ending the session at $55.22, with a gain of 1.23% or 0.67 points. The heightened volatility saw the trading volume jump to 3,25,435 shares. Company has a market cap of $3,837 M.

On the company’s financial health, Prosperity Bancshares reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.97.Analysts expectations of $ 191.88.During the same quarter in the previous year, the company posted $1.03 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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