Elizabeth Park Capital Advisors Ltd. buys $14.1 Million stake in Prosperity Bancshares (PB)

Prosperity Bancshares (PB) : Elizabeth Park Capital Advisors Ltd. scooped up 17,676 additional shares in Prosperity Bancshares during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 291,029 shares of Prosperity Bancshares which is valued at $14.1 Million.Prosperity Bancshares makes up approximately 5.49% of Elizabeth Park Capital Advisors Ltd.’s portfolio.

Other Hedge Funds, Including , Riverhead Capital Management reduced its stake in PB by selling 409 shares or 3.25% in the most recent quarter. The Hedge Fund company now holds 12,191 shares of PB which is valued at $590,898. Prosperity Bancshares makes up approx 0.01% of Riverhead Capital Management’s portfolio.Ubs Asset Management Americas Inc reduced its stake in PB by selling 33,338 shares or 39.47% in the most recent quarter. The Hedge Fund company now holds 51,117 shares of PB which is valued at $2.5 Million.Champlain Investment Partners reduced its stake in PB by selling 27,000 shares or 1.48% in the most recent quarter. The Hedge Fund company now holds 1,798,525 shares of PB which is valued at $87.2 Million. Prosperity Bancshares makes up approx 1.58% of Champlain Investment Partners’s portfolio.Ls Investment Advisors boosted its stake in PB in the latest quarter, The investment management firm added 113 additional shares and now holds a total of 2,249 shares of Prosperity Bancshares which is valued at $109,009. Prosperity Bancshares makes up approx 0.01% of Ls Investment Advisors’s portfolio.Russell Frank Co boosted its stake in PB in the latest quarter, The investment management firm added 30,346 additional shares and now holds a total of 506,276 shares of Prosperity Bancshares which is valued at $26.7 Million. Prosperity Bancshares makes up approx 0.05% of Russell Frank Co’s portfolio.

Prosperity Bancshares opened for trading at $53.26 and hit $54.12 on the upside on Wednesday, eventually ending the session at $53.79, with a gain of 1.78% or 0.94 points. The heightened volatility saw the trading volume jump to 2,89,442 shares. Company has a market cap of $3,742 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. Prosperity Bancshares was Upgraded by Raymond James to ” Outperform” on May 9, 2016. Company shares were Reiterated by FBR Capital on Apr 28, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 55 from a previous price target of $48 .Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 52 from a previous price target of $48 .

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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