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, January 29th. The stock was sold at an average price of $79.92, for a total value of $39,960.00. Following the transaction, the director now owns 107,815 shares in the company, valued at $8,616,574.80. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Prosperity Bancshares Price Performance

NYSE:PB opened at $80.35 on Friday. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75. The firm has a market capitalization of $7.65 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93. The business’s fifty day moving average price is $78.76 and its 200 day moving average price is $74.97.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.68% and a net margin of 26.79%. As a group, equities analysts anticipate that Prosperity Bancshares, Inc. will post 5.78 EPS for the current year.

Prosperity Bancshares Announces Dividend

The business 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 dividend of $0.58 per share. The ex-dividend date is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 2.89%. Prosperity Bancshares’s payout ratio is currently 45.85%.

Wall Street Analyst Weigh In

PB has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $77.00 target price on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. UBS Group dropped their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, December 26th. Wedbush reiterated an “outperform” rating and set a $90.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in Prosperity Bancshares in the third quarter valued at $16,478,000. Jane Street Group LLC increased its position in shares of Prosperity Bancshares by 418.0% during the third quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock worth $8,039,000 after purchasing an additional 90,015 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Prosperity Bancshares in the 4th quarter valued at about $5,463,000. Los Angeles Capital Management LLC acquired a new stake in shares of Prosperity Bancshares in the 3rd quarter valued at about $4,804,000. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Prosperity Bancshares by 6.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 889,219 shares of the bank’s stock worth $67,002,000 after buying an additional 53,654 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other 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.