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

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $70.86, for a total transaction of $35,430.00. Following the sale, the director now owns 104,315 shares of the company’s stock, valued at approximately $7,391,760.90. This represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Prosperity Bancshares Stock Performance

Shares of PB opened at $71.34 on Thursday. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.76. The firm’s 50 day moving average price is $76.58 and its two-hundred day moving average price is $76.21. The firm has a market cap of $6.80 billion, a P/E ratio of 14.10, a PEG ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data 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%. On average, sell-side analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PB shares. Raymond James lifted their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Morgan Stanley reduced their price objective on shares of Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research note on Tuesday, January 7th. Stephens lifted 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, Barclays lifted their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.50.

Institutional Trading of Prosperity Bancshares

A number of institutional investors have recently made changes to their positions in PB. KBC Group NV lifted its position in shares of Prosperity Bancshares by 15.4% in the third quarter. KBC Group NV now owns 2,824 shares of the bank’s stock worth $204,000 after purchasing an additional 376 shares in the last quarter. Natixis Advisors LLC increased its holdings in Prosperity Bancshares by 9.5% during the third quarter. Natixis Advisors LLC now owns 212,125 shares of the bank’s stock worth $15,288,000 after buying an additional 18,424 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Prosperity Bancshares by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 818,744 shares of the bank’s stock worth $59,007,000 after buying an additional 6,972 shares during the last quarter. Swiss National Bank increased its holdings in Prosperity Bancshares by 1.8% during the third quarter. Swiss National Bank now owns 187,367 shares of the bank’s stock worth $13,504,000 after buying an additional 3,300 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in Prosperity Bancshares during the third quarter worth $574,000. Institutional investors own 80.69% of the company’s stock.

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.