Prosperity Bancshares, Inc. (NYSE:PB) Chairman H E. Timanus, Jr. Sells 4,000 Shares

Prosperity Bancshares, Inc. (NYSE:PB) Chairman H E. Timanus, Jr. sold 4,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $86.50, for a total value of $346,000.00. Following the completion of the transaction, the chairman now directly owns 229,953 shares in the company, valued at approximately $19,890,934.50. This represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Prosperity Bancshares Stock Performance

NYSE:PB opened at $84.15 on Thursday. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.75. The business’s fifty day moving average is $75.31 and its 200 day moving average is $69.39. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.27 and a beta of 0.89.

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

Prosperity Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.76%. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, December 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 49.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $77.00 target price on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Morgan Stanley raised shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $75.00 to $86.00 in a report on Monday, August 5th. Raymond James lowered Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price objective for the company. in a report on Tuesday, September 17th. Finally, Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of Prosperity Bancshares in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.96.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Prosperity Bancshares by 59.6% in the second quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock worth $29,000 after buying an additional 177 shares in the last quarter. Quarry LP raised its holdings in shares of Prosperity Bancshares by 533.3% in the 2nd 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. Quest Partners LLC raised its holdings in shares of Prosperity Bancshares by 3,147.1% in the 2nd quarter. Quest Partners LLC now owns 552 shares of the bank’s stock valued at $34,000 after acquiring an additional 535 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Prosperity Bancshares during the 2nd quarter valued at about $43,000. Finally, Headlands Technologies LLC bought a new position in shares of Prosperity Bancshares in the second quarter worth approximately $46,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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.