Insider Selling: Prosperity Bancshares, Inc. (NYSE:PB) Director Sells $35,435.00 in Stock

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $70.87, for a total transaction of $35,435.00. Following the completion of the transaction, the director now owns 103,315 shares of the company’s stock, valued at approximately $7,321,934.05. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Prosperity Bancshares Price Performance

Shares of PB stock opened at $64.38 on Friday. The business’s fifty day moving average price is $74.82 and its 200 day moving average price is $76.02. The firm has a market capitalization of $6.13 billion, a PE ratio of 12.72, a P/E/G ratio of 0.94 and a beta of 0.82. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share 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%. Equities research analysts expect that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.60%. Prosperity Bancshares’s payout ratio is 45.85%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PB shares. Bank of America raised Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Tuesday, January 7th. StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, March 19th. Stephens upped their target price 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. UBS Group lowered their price target on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, December 26th. Finally, Barclays upped their price objective on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Prosperity Bancshares currently has a consensus rating of “Hold” and a consensus target price of $83.50.

Institutional Investors Weigh In On Prosperity Bancshares

Institutional investors and hedge funds have recently modified their holdings of the company. Cerity Partners LLC grew its holdings in Prosperity Bancshares by 22.6% in the third quarter. Cerity Partners LLC now owns 6,282 shares of the bank’s stock valued at $453,000 after purchasing an additional 1,157 shares during the last quarter. FMR LLC grew its stake in Prosperity Bancshares by 69.9% in the 3rd quarter. FMR LLC now owns 7,736 shares of the bank’s stock valued at $558,000 after acquiring an additional 3,182 shares during the last quarter. Glenmede Trust Co. NA purchased a new position in Prosperity Bancshares during the 3rd quarter valued at about $294,000. Walleye Capital LLC acquired a new position in Prosperity Bancshares during the third quarter worth about $368,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Prosperity Bancshares by 6.2% in the third quarter. Captrust Financial Advisors now owns 5,848 shares of the bank’s stock valued at $421,000 after purchasing an additional 341 shares in the last quarter. Institutional investors and hedge funds 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.