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

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $79.92, for a total value of $39,960.00. Following the transaction, the director now owns 107,815 shares of the company’s stock, valued at $8,616,574.80. This represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Prosperity Bancshares Stock Performance

NYSE PB opened at $79.96 on Friday. The company has a market capitalization of $7.62 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93. The company has a 50-day simple moving average of $78.68 and a 200 day simple moving average of $75.07. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.75.

Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.68%. As a group, analysts forecast that Prosperity Bancshares, Inc. will post 5.78 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 2.90%. Prosperity Bancshares’s payout ratio is 45.85%.

Wall Street Analyst Weigh In

Several analysts have weighed in on PB shares. UBS Group dropped their price objective on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, December 26th. Wolfe Research reiterated a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Bank of America upgraded Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Tuesday, January 7th. Wedbush restated an “outperform” rating and set a $90.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. Finally, DA Davidson lowered Prosperity Bancshares from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $80.00 to $78.00 in a research report on Tuesday, October 15th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Institutional Trading of Prosperity Bancshares

Large investors have recently modified their holdings of the business. Quarry LP lifted 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 buying an additional 416 shares during the period. UMB Bank n.a. increased its stake in shares of Prosperity Bancshares by 102.7% during the fourth quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Prosperity Bancshares by 47.9% during the third 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 holdings in shares of Prosperity Bancshares by 190.0% during the third 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 position in shares of Prosperity Bancshares by 181.6% in the 3rd 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 owned by institutional investors.

About Prosperity Bancshares

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.