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 22nd. The stock was sold at an average price of $79.01, for a total value of $39,505.00. Following the completion of the transaction, the director now owns 108,315 shares of the company’s stock, valued at $8,557,968.15. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Prosperity Bancshares Price Performance

Shares of NYSE:PB opened at $79.13 on Friday. The firm has a market capitalization of $7.54 billion, a PE ratio of 16.80, a P/E/G ratio of 1.11 and a beta of 0.93. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75. The business has a 50-day moving average of $78.93 and a two-hundred day moving average of $74.48.

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

Prosperity Bancshares Announces Dividend

The firm also recently announced 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 2.93%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is presently 49.26%.

Institutional Trading of Prosperity Bancshares

A number of institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in shares of Prosperity Bancshares by 2.0% during the second quarter. American Century Companies Inc. now owns 29,315 shares of the bank’s stock worth $1,792,000 after purchasing an additional 575 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Prosperity Bancshares by 7.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 47,395 shares of the bank’s stock worth $2,898,000 after acquiring an additional 3,175 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Prosperity Bancshares by 12.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,655 shares of the bank’s stock worth $407,000 after acquiring an additional 717 shares during the period. Hsbc Holdings PLC grew its position in Prosperity Bancshares by 804.4% in the second quarter. Hsbc Holdings PLC now owns 42,500 shares of the bank’s stock valued at $2,611,000 after acquiring an additional 37,801 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Prosperity Bancshares by 3.3% during the second quarter. Pacer Advisors Inc. now owns 14,419 shares of the bank’s stock valued at $882,000 after purchasing an additional 455 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PB. DA Davidson cut Prosperity Bancshares from a “buy” rating to a “neutral” rating and dropped their price target for the company from $80.00 to $78.00 in a research report on Tuesday, October 15th. Barclays lifted their target price on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Bank of America upgraded Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a research report on Tuesday, January 7th. Finally, UBS Group lowered their target price on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, December 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Prosperity Bancshares presently has a consensus rating of “Hold” and a consensus price target of $81.38.

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.