Prosperity Bancshares (PB) : Alpenglow Capital Lp added new position in Prosperity Bancshares during the most recent quarter end. The investment management firm now holds 43,900 shares of Prosperity Bancshares which is valued at $2,270,947 , the company said in a statement filed on Aug 15, 2016 with the SEC.Prosperity Bancshares makes up approximately 3.90% of Alpenglow Capital Lp’s portfolio.
Other Hedge Funds, Including , Elizabeth Park Capital Advisors Ltd. reduced its stake in PB by selling 23,007 shares or 7.91% in the most recent quarter. The Hedge Fund company now holds 268,022 shares of PB which is valued at $13,864,778. Prosperity Bancshares makes up approx 5.52% of Elizabeth Park Capital Advisors Ltd.’s portfolio. Pacer Advisors added PB to its portfolio by purchasing 5,435 company shares during the most recent quarter which is valued at $281,153. Prosperity Bancshares makes up approx 0.04% of Pacer Advisors’s portfolio.William Blair Investment Management reduced its stake in PB by selling 7,295 shares or 1.93% in the most recent quarter. The Hedge Fund company now holds 371,234 shares of PB which is valued at $19,452,662. Prosperity Bancshares makes up approx 0.07% of William Blair Investment Management’s portfolio.
Prosperity Bancshares closed down -0.49 points or -0.88% at $54.98 with 1,59,936 shares getting traded on Thursday. Post opening the session at $55.73, the shares hit an intraday low of $54.2116 and an intraday high of $56.13 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
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 Companys 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.