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 the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $78.30, for a total transaction of $39,150.00. Following the completion of the transaction, the director now owns 106,815 shares of the company’s stock, valued at $8,363,614.50. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Prosperity Bancshares Stock Performance

Shares of NYSE:PB opened at $78.02 on Thursday. The company has a market cap of $7.43 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.98 and a beta of 0.94. Prosperity Bancshares, Inc. has a 52 week low of $57.16 and a 52 week high of $86.75. The firm has a 50 day simple moving average of $77.96 and a 200 day simple moving average of $75.65.

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

Prosperity Bancshares Announces Dividend

The company 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 $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 2.97%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Prosperity Bancshares in a report on Thursday, October 24th. Wolfe Research reiterated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Stephens increased their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Barclays increased their target price on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Finally, Raymond James increased their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.88.

Institutional Investors Weigh In On Prosperity Bancshares

Several hedge funds have recently made changes to their positions in PB. Prudential PLC acquired a new position in Prosperity Bancshares in the 4th quarter valued at approximately $720,000. Uniting Wealth Partners LLC acquired a new position in Prosperity Bancshares in the 4th quarter valued at approximately $257,000. ExodusPoint Capital Management LP increased its stake in Prosperity Bancshares by 462.3% in the 4th quarter. ExodusPoint Capital Management LP now owns 169,778 shares of the bank’s stock valued at $12,793,000 after buying an additional 139,585 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Prosperity Bancshares by 1.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,342,047 shares of the bank’s stock valued at $176,473,000 after buying an additional 32,917 shares during the period. Finally, Trexquant Investment LP increased its stake in Prosperity Bancshares by 18.4% in the 4th quarter. Trexquant Investment LP now owns 12,108 shares of the bank’s stock valued at $912,000 after buying an additional 1,879 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.