Elizabeth Park Capital Advisors Ltd. Lowers stake in Prosperity Bancshares (PB)

Prosperity Bancshares (PB) : Elizabeth Park Capital Advisors Ltd. reduced its stake in Prosperity Bancshares by 7.91% during the most recent quarter end. The investment management company now holds a total of 268,022 shares of Prosperity Bancshares which is valued at $13,864,778 after selling 23,007 shares in Prosperity Bancshares , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Prosperity Bancshares makes up approximately 5.52% of Elizabeth Park Capital Advisors Ltd.’s portfolio.

Other Hedge Funds, Including , Aqr Capital Management boosted its stake in PB in the latest quarter, The investment management firm added 59,165 additional shares and now holds a total of 76,221 shares of Prosperity Bancshares which is valued at $3,942,912. Prosperity Bancshares makes up approx 0.01% of Aqr Capital Management’s portfolio.Parametric Portfolio Associates reduced its stake in PB by selling 527 shares or 0.78% in the most recent quarter. The Hedge Fund company now holds 66,924 shares of PB which is valued at $3,461,979. Prosperity Bancshares makes up approx 0.01% of Parametric Portfolio Associates’s portfolio.First Mercantile Trust Co reduced its stake in PB by selling 370 shares or 11.56% in the most recent quarter. The Hedge Fund company now holds 2,830 shares of PB which is valued at $146,396. Prosperity Bancshares makes up approx 0.02% of First Mercantile Trust Co’s portfolio.Teacher Retirement System Of Texas boosted its stake in PB in the latest quarter, The investment management firm added 1,126 additional shares and now holds a total of 9,328 shares of Prosperity Bancshares which is valued at $496,623.Oregon Public Employees Retirement Fund boosted its stake in PB in the latest quarter, The investment management firm added 533 additional shares and now holds a total of 22,033 shares of Prosperity Bancshares which is valued at $1,127,869. Prosperity Bancshares makes up approx 0.02% of Oregon Public Employees Retirement Fund’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 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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