Prosperity Bancshares, Inc. (NYSE:PB) Director Sells $32,935.00 in Stock

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $65.87, for a total transaction of $32,935.00. Following the sale, the director now directly owns 103,915 shares in the company, valued at $6,844,881.05. This trade represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Prosperity Bancshares Trading Up 0.2 %

Shares of Prosperity Bancshares stock traded up $0.11 during trading on Thursday, hitting $65.75. The stock had a trading volume of 92,544 shares, compared to its average volume of 565,226. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 0.94 and a beta of 0.82. The business’s 50-day moving average is $71.85 and its 200 day moving average is $75.49. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. As a group, equities analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.53%. Prosperity Bancshares’s dividend payout ratio is currently 45.85%.

Institutional Investors Weigh In On Prosperity Bancshares

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its holdings in shares of Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after buying an additional 312 shares during the period. Jones Financial Companies Lllp increased its position in shares of Prosperity Bancshares by 368.5% in the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock valued at $39,000 after acquiring an additional 409 shares during the period. UMB Bank n.a. increased its holdings in Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after purchasing an additional 300 shares during the period. GAMMA Investing LLC lifted its holdings in Prosperity Bancshares by 20.4% in 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. Finally, Aster Capital Management DIFC Ltd grew its position in shares of Prosperity Bancshares by 349.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank’s stock worth $69,000 after buying an additional 713 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Raymond James boosted their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. StockNews.com upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, April 10th. Barclays reduced their price target on Prosperity Bancshares from $88.00 to $86.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. UBS Group cut their price objective 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. Finally, Stephens upped their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Prosperity Bancshares currently has an average rating of “Moderate Buy” and an average target price of $83.35.

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.