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 on Wednesday, April 9th. The stock was sold at an average price of $63.62, for a total transaction of $31,810.00. Following the transaction, the director now owns 102,815 shares in the company, valued at approximately $6,541,090.30. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Prosperity Bancshares Stock Up 0.8 %

Prosperity Bancshares stock opened at $64.72 on Friday. The company has a market capitalization of $6.17 billion, a PE ratio of 12.79, a PEG ratio of 0.94 and a beta of 0.82. Prosperity Bancshares, Inc. has a 12-month low of $57.16 and a 12-month high of $86.76. The firm’s fifty day moving average is $72.73 and its 200 day moving average is $75.63.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 earnings per share 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%. Sell-side analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.58 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.32 annualized dividend and a yield of 3.58%. Prosperity Bancshares’s payout ratio is currently 45.85%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Barclays lowered their target price on Prosperity Bancshares from $88.00 to $86.00 and set an “equal weight” rating for the company in a research report on Tuesday. Stephens raised their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. StockNews.com raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. Bank of America raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research report on Tuesday, January 7th. Finally, UBS Group dropped their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.35.

Institutional Investors Weigh In On Prosperity Bancshares

Hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in shares of Prosperity Bancshares by 487.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock valued at $28,000 after buying an additional 312 shares during the last quarter. Jones Financial Companies Lllp lifted its position 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 acquiring an additional 409 shares in the last quarter. UMB Bank n.a. lifted its position in Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 143 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd increased its holdings in Prosperity Bancshares by 349.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank’s stock worth $69,000 after purchasing an additional 713 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.