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 business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $80.01, for a total transaction of $40,005.00. Following the completion of the sale, the director now directly owns 107,315 shares of the company’s stock, valued at $8,586,273.15. This represents a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Prosperity Bancshares Trading Down 0.1 %

NYSE PB opened at $80.61 on Friday. The business’s 50-day moving average price is $78.31 and its two-hundred day moving average price is $75.39. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75. The firm has a market capitalization of $7.68 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results 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, analysts forecast that Prosperity Bancshares, Inc. will post 5.8 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

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

Institutional Inflows and Outflows

A number of 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 position in shares of Prosperity Bancshares in the 2nd quarter valued at about $540,000. SG Americas Securities LLC lifted its stake in shares of Prosperity Bancshares by 296.4% in the 3rd quarter. SG Americas Securities LLC now owns 13,810 shares of the bank’s stock valued at $995,000 after purchasing an additional 10,326 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Prosperity Bancshares by 11.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 20,931 shares of the bank’s stock valued at $1,508,000 after purchasing an additional 2,200 shares during the period. GAMMA Investing LLC lifted its stake in shares of Prosperity Bancshares by 47.9% in 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 during the period. Finally, Helen Stephens Group LLC acquired a new position in shares of Prosperity Bancshares in the 3rd quarter valued at about $2,234,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PB has been the subject of a number of recent research reports. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research report on Tuesday, January 7th. 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 report on Thursday, January 30th. DA Davidson cut shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating and dropped their target price for the company from $80.00 to $78.00 in a research report on Tuesday, October 15th. Finally, UBS Group dropped their target price on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

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.