Is Prosperity Bancshares, Inc. (PB) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that cut their entire stakes in the stock during the third quarter. It’s worth mentioning that Ken Griffin’s Citadel Investment Group cut the biggest investment of the “upper crust” of funds monitored by Insider Monkey, comprising about $1.8 million in stock, and Matthew Tewksbury’s Stevens Capital Management was right behind this move, as the fund dumped about $0.2 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Prosperity Bancshares, Inc. (NYSE:PB) but similarly valued. We will take a look at CyrusOne Inc (NASDAQ:CONE), Vanguard International Equity Index Funds (NASDAQ:VNQI), Equity Commonwealth (NYSE:EQC), and Portland General Electric Company (NYSE:POR). This group of stocks’ market caps are closest to PB’s market cap.

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $210 million. That figure was $79 million in PB’s case. CyrusOne Inc (NASDAQ:CONE) is the most popular stock in this table. On the other hand Vanguard International Equity Index Funds (NASDAQ:VNQI) is the least popular one with only 4 bullish hedge fund positions. Prosperity Bancshares, Inc. (NYSE:PB) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CONE might be a better candidate to consider taking a long position in.

Disclosure: None