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 company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $73.62, for a total value of $36,810.00. Following the transaction, the director now directly owns 105,315 shares in the company, valued at $7,753,290.30. The trade was a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Prosperity Bancshares Stock Down 0.0 %

Prosperity Bancshares stock opened at $72.80 on Friday. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The business has a 50 day moving average price of $77.30 and a two-hundred day moving average price of $76.27. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping 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%. On average, analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 3.19%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

Wall Street Analyst Weigh In

PB has been the topic of a number of recent research reports. StockNews.com downgraded Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Stephens boosted their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Raymond James boosted their target price on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. 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 research note on Thursday, December 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Prosperity Bancshares has a consensus rating of “Hold” and an average target price of $82.88.

Institutional Investors Weigh In On Prosperity Bancshares

Large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its position in Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after acquiring an additional 312 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Prosperity Bancshares by 368.5% in the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock worth $39,000 after purchasing an additional 409 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after purchasing an additional 300 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Prosperity Bancshares by 190.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after buying an additional 534 shares during the period. Finally, GAMMA Investing LLC raised its stake in Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after buying an additional 143 shares during the period. 80.69% of the stock is currently owned by 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.