Prosperity Bancshares, Inc. (NYSE:PB) Director Sells $36,810.00 in Stock

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $73.62, for a total value of $36,810.00. Following the transaction, the director now owns 105,315 shares of the company’s stock, valued at $7,753,290.30. The trade was a 0.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Prosperity Bancshares Trading Down 0.0 %

Shares of NYSE:PB opened at $72.80 on Friday. The company 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. The company has a 50-day moving average price of $77.30 and a 200-day moving average price of $76.27. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

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

Institutional Investors Weigh In On Prosperity Bancshares

Institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in shares of Prosperity Bancshares by 487.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock valued at $28,000 after buying an additional 312 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Prosperity Bancshares by 368.5% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock valued at $39,000 after purchasing an additional 409 shares during the period. UMB Bank n.a. lifted its position in Prosperity Bancshares by 102.7% during the fourth 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. First Horizon Advisors Inc. raised its position in Prosperity Bancshares by 190.0% in the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock worth $59,000 after acquiring an additional 534 shares during the period. Finally, GAMMA Investing LLC raised its position in Prosperity Bancshares by 20.4% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock worth $64,000 after acquiring an additional 143 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

PB has been the subject of a number of research analyst reports. Raymond James boosted their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wolfe Research reiterated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. StockNews.com cut shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Stephens boosted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, UBS Group reduced their price objective on shares of 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 given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Prosperity Bancshares currently has a consensus rating of “Hold” and a consensus target price of $82.88.

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.