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 Prosperity Bancshares stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $72.12, for a total value of $36,060.00. Following the completion of the sale, the director now directly owns 103,815 shares in the company, valued at $7,487,137.80. This trade represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Prosperity Bancshares Trading Down 0.2 %

Shares of NYSE PB opened at $71.53 on Friday. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.76. The firm has a market capitalization of $6.81 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. The firm’s 50-day moving average is $75.99 and its 200-day moving average is $76.13.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. As a group, equities research 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 declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio is 45.85%.

Hedge Funds Weigh In On Prosperity Bancshares

Hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after acquiring an additional 312 shares during the period. Jones Financial Companies Lllp increased its stake in Prosperity Bancshares by 368.5% in the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank’s stock valued at $39,000 after buying an additional 409 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Prosperity Bancshares by 102.7% during the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after purchasing an additional 300 shares during the period. GAMMA Investing LLC grew its position in shares of Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank’s stock valued at $64,000 after acquiring an additional 143 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its holdings in Prosperity Bancshares by 349.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank’s stock worth $69,000 after buying an additional 713 shares during the period. 80.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PB shares. Morgan Stanley decreased their target price on Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th. Raymond James lifted their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Barclays lifted 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Prosperity Bancshares has an average rating of “Hold” and an average price target of $83.50.

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.