Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes Sells 500 Shares

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $79.01, for a total transaction of $39,505.00. Following the transaction, the director now directly owns 108,315 shares of the company’s stock, valued at $8,557,968.15. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Prosperity Bancshares Stock Down 0.6 %

PB stock opened at $78.31 on Friday. The company has a 50 day moving average of $79.07 and a two-hundred day moving average of $74.32. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 1.11 and a beta of 0.93. Prosperity Bancshares, Inc. has a 12-month low of $57.16 and a 12-month high of $86.75.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $459.00 million for the quarter, compared to the consensus estimate of $299.83 million. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. During the same period in the prior year, the business posted $1.20 earnings per share. On average, research analysts anticipate that Prosperity Bancshares, Inc. will post 5.05 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s payout ratio is currently 49.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PB shares. DA Davidson downgraded Prosperity Bancshares from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $80.00 to $78.00 in a research report on Tuesday, October 15th. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of Prosperity Bancshares in a research report on Thursday, October 24th. StockNews.com lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. UBS Group reduced their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, December 26th. Finally, Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Prosperity Bancshares presently has a consensus rating of “Hold” and an average target price of $81.38.

Institutional Investors Weigh In On Prosperity Bancshares

Several institutional investors have recently made changes to their positions in the company. Quarry LP raised its position in Prosperity Bancshares by 533.3% during the second quarter. Quarry LP now owns 494 shares of the bank’s stock valued at $30,000 after acquiring an additional 416 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Prosperity Bancshares by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock valued at $51,000 after purchasing an additional 227 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Prosperity Bancshares by 190.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock valued at $59,000 after purchasing an additional 534 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Prosperity Bancshares by 181.6% in the third quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock worth $62,000 after purchasing an additional 554 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; term loans and lines of credit; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.