Prosperity Bancshares, Inc. (NYSE:PB) Director Sells $33,790.00 in Stock

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $67.58, for a total transaction of $33,790.00. Following the sale, the director now owns 103,415 shares of the company’s stock, valued at approximately $6,988,785.70. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Prosperity Bancshares Trading Up 0.7 %

Shares of NYSE:PB opened at $67.71 on Friday. The firm has a market cap of $6.45 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The company has a fifty day simple moving average of $70.43 and a 200 day simple moving average of $75.31. Prosperity Bancshares, Inc. has a 12-month low of $57.16 and a 12-month high of $86.76.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, April 23rd. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.02. The company had revenue of $306.68 million during the quarter, compared to the consensus estimate of $307.17 million. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. As a group, equities research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, June 13th. Prosperity Bancshares’s payout ratio is currently 44.19%.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several equities analysts recently weighed in on PB shares. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a report on Tuesday, January 7th. Morgan Stanley reduced their price objective on Prosperity Bancshares from $102.00 to $94.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. 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 note on Tuesday, April 8th. StockNews.com lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Stephens increased their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Prosperity Bancshares presently has a consensus rating of “Hold” and an average target price of $83.42.

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.