Insider Selling: Prosperity Bancshares, Inc. (NYSE:PB) Director Sells $40,005.00 in Stock

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $80.01, for a total value of $40,005.00. Following the completion of the sale, the director now directly owns 107,315 shares in the company, valued at approximately $8,586,273.15. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Prosperity Bancshares Price Performance

Shares of PB traded down $0.23 during mid-day trading on Thursday, hitting $80.46. The company’s stock had a trading volume of 95,576 shares, compared to its average volume of 516,830. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.75. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 0.97 and a beta of 0.94. The firm has a 50-day moving average price of $78.39 and a 200 day moving average price of $75.36.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. As a group, equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.8 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 2.88%. Prosperity Bancshares’s payout ratio is presently 45.85%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PB. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Prosperity Bancshares during the 2nd quarter valued at $540,000. SG Americas Securities LLC raised its stake in shares of Prosperity Bancshares by 296.4% during the 3rd quarter. SG Americas Securities LLC now owns 13,810 shares of the bank’s stock worth $995,000 after purchasing an additional 10,326 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Prosperity Bancshares by 11.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 20,931 shares of the bank’s stock worth $1,508,000 after purchasing an additional 2,200 shares in the last quarter. GAMMA Investing LLC lifted 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 buying an additional 227 shares during the last quarter. Finally, Helen Stephens Group LLC bought a new stake in shares of Prosperity Bancshares in the 3rd quarter valued at approximately $2,234,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PB has been the subject of several analyst reports. StockNews.com raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Raymond James boosted their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. UBS Group dropped their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Barclays boosted their price objective on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Finally, Bank of America raised 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. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

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.