Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes Sells 500 Shares

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on Wednesday, February 5th. The stock was 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. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Prosperity Bancshares Stock Performance

Shares of NYSE:PB opened at $79.96 on Friday. The company has a market cap of $7.62 billion, a P/E ratio of 15.80, a PEG ratio of 0.97 and a beta of 0.94. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.75. The business’s 50-day simple moving average is $78.31 and its 200 day simple moving average is $75.39.

Prosperity Bancshares (NYSE:PB) last posted its 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%. Analysts predict that Prosperity Bancshares, Inc. will post 5.8 earnings per share for the current year.

Prosperity Bancshares Dividend Announcement

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 dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 2.90%. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

Institutional Trading of Prosperity Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Prosperity Bancshares during the 2nd quarter valued at approximately $540,000. SG Americas Securities LLC boosted its stake in shares of Prosperity Bancshares by 296.4% during the 3rd quarter. SG Americas Securities LLC now owns 13,810 shares of the bank’s stock valued at $995,000 after buying an additional 10,326 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Prosperity Bancshares by 11.7% during the third quarter. Handelsbanken Fonder AB now owns 20,931 shares of the bank’s stock worth $1,508,000 after buying an additional 2,200 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Prosperity Bancshares by 47.9% in the third quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock worth $51,000 after buying an additional 227 shares during the last quarter. Finally, Helen Stephens Group LLC acquired a new stake in Prosperity Bancshares in the third quarter valued at $2,234,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. DA Davidson cut Prosperity Bancshares from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $80.00 to $78.00 in a report on Tuesday, October 15th. Raymond James lifted their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Stephens increased their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. Finally, Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.