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

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $79.92, for a total transaction of $39,960.00. Following the transaction, the director now directly owns 107,815 shares of the company’s stock, valued at approximately $8,616,574.80. This trade 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 this link.

Prosperity Bancshares Stock Up 1.1 %

Prosperity Bancshares stock opened at $80.35 on Friday. The company has a fifty day simple moving average of $78.76 and a 200-day simple moving average of $74.97. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.12 and a beta of 0.93. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.75.

Prosperity Bancshares (NYSE:PB) last released 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 net margin of 26.79% and a return on equity of 6.68%. On average, research analysts anticipate that Prosperity Bancshares, Inc. will post 5.78 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

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 paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 45.85%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PB shares. 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 report on Thursday, December 26th. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. StockNews.com upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada restated a “sector perform” rating and issued a $77.00 price objective on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Finally, Raymond James increased their target price on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Prosperity Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Institutional Trading of Prosperity Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of PB. Blue Trust Inc. raised its position in shares of Prosperity Bancshares by 14.9% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank’s stock valued at $71,000 after buying an additional 128 shares during the period. GAMMA Investing LLC raised its position in Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after purchasing an additional 143 shares during the period. M&T Bank Corp lifted its stake in shares of Prosperity Bancshares by 0.3% in the 3rd quarter. M&T Bank Corp now owns 45,392 shares of the bank’s stock valued at $3,272,000 after purchasing an additional 149 shares during the last quarter. US Bancorp DE grew its holdings in shares of Prosperity Bancshares by 3.4% during the 3rd quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock worth $340,000 after purchasing an additional 153 shares during the period. Finally, Savant Capital LLC grew its holdings in shares of Prosperity Bancshares by 4.6% during the 4th quarter. Savant Capital LLC now owns 4,505 shares of the bank’s stock worth $339,000 after purchasing an additional 197 shares during the period. 80.69% of the stock is 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.